Different groups of people have shown support for Bitcoin and other cryptocurrencies. Now is time for investors to show whether they are ready or not to invest on it. A recently released survey clarified what big investors think about this cryptocurrency.
Trading Investors Happy with Fluctuations
Different Wall Street’s CEOs have been giving their opinions about Bitcoin. Jamie Dimon, for example, was one of the hardest commentators for this virtual currency. But this is not the real feeling behind wall street investors.
According to Triad Securities, 31% of the 317 investors surveyed, have bought Bitcoin. 38,8% of them would trust current Bitcoin custodial offerings like Coinbase, Gemini, Xapo, Kingdom Trust, etc. 31,23% have low confidence or would trust only traditional custodians over current Bitcoin custodial offerings.
Regarding this situation, CoinStaker wrote about Coinbase Custody. The intention of Coinbase Custody is to offer a safe platform for big investors turning into Bitcoin and other cryptocurrencies.
“Coinbase is already storing more than $9B of digital currency on behalf of our customers, and we are excited to bring a new product built specifically for institutional investor,” Coinbase wrote in a statement.
Almost 50% of the investors surveyed have a high or medium level of confidence in crypto asset liquidity. At the same time, 40% of those surveyed would consider Bitcoin as a safe haven store of value similar to gold. 29% of investors have considered investing in ICOs and 7,89% have already invested in them. In addition to it, 62% of investors are thinking to buy Bitcoin or they have already bought some of them.
Traders do like when assets have a good amount of trading volume and patterns like the one of Bitcoin. In this way they feel comfortable with buying and selling and not worrying about market liquidity.
Investors are not the Only Believing in Bitcoin
In September, LendEDU conducted a survey about Bitcoin and cryptocurrencies. The results showed that 78,6% of the interviewed have heard of Bitcoin, while 21% have not heard about it. Younger respondents, are more likely to have heard of the digital currency compared to older Americans. 88,67% percent of those interviewed aged between 18 and 24 had heard of Bitcoin before.
“It was a consistent trend that as respondents got older, their likelihood of hearing about bitcoin went down,” reads the report. “So, Bitcoin has certainly carved out a name of itself in the U.S., but that does not necessarily mean people know much about the virtual currency, which is evident in the next question.”
The next question was about the legal situation of Bitcoin in the United States. “Is owning Bitcoin in the U.S. illegal?” To this question, 10,69% believed that owning Bitcoin is illegal, 41% believe that it is legal and 47% are not sure about that.
“It appears that there is a ‘dark-web’ stigma attached to Bitcoin. Most people know what Bitcoin is, but they also associate Bitcoin as a mechanism for conducting suspicious behavior on the web. Of course, the name “cryptocurrency” certainly does not help. Bitcoin’s image, as that description makes it sound like you are evading the government,” finishes the report.
Image courtesy of Pixabay
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