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Cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) have been gaining acceptance in the financial community with a number of banking giants already offering crypto-related services to their clientele. A new survey reveals that investors expect digital currencies to go mainstream and even overtake traditional investment vehicles within ten years.
A recently released Crypto Pulse survey by Bitstamp revealed that both institutional and retail investors believe that crypto will overtake traditional investment vehicles within a decade. In fact, institutions are more bullish with 80 percent of institutional respondents believing that it could happen in ten years compared to the 54 percent of retail investors who answered the question affirmatively, according to Cointelegraph.
Investors likewise believe that crypto’s mainstream adoption could happen within the same timeframe. Among institutional investors, 88 percent believe that it could happen within the next 10 years while 75 percent of retail answered similarly.
“In the last few years, cryptocurrencies have moved from the outskirts of the financial ecosystem to find themselves front and center of mainstream investing, with many of the largest trading venues in the world now catering to both retail and institutional crypto needs,” Bitstamp CEO Julian Sawyer said, according to Finance Magnates. “We’ve seen interest propel in the years since the pandemic, and crypto is now part of the wider conversation in global macro-economic matters. The survey shows something we have long advocated, talking about the survival of digital assets is firmly over, the question is now about evolution.”
Crypto is also gaining trust among investors as an asset class. Among retail respondents, 67 percent view crypto as a trustworthy investment while only 11 percent say that it is untrustworthy. Meanwhile, 70 percent of institutional respondents say it is a trustworthy investment with 68 percent actively recommending digital currencies as part of their client's investment strategy.
Bitstamp’s survey involved 28,563 respondents from 23 countries in Africa, Asia-Pacific, Europe, Latin America, North America, and the Middle East. The respondents are composed of 23,113 retail investors and 5,450 senior institutional investment strategy decision-makers.
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