Even with all of the bad news, fraud, and pullbacks, demand is increasing for cryptocurrencies.
Despite the decline in cryptocurrency valuations this year, consumers and investors continue to offer a bullish, long term outlook for cryptocurrencies and blockchain.
According to a SharesPost survey
SharesPost received 2,490 responses from consumers and 528 responses from individual accredited and institutional investors.
Here’s what it uncovered.
“Cryptocurrency prices have see sawed over the past several months. Nevertheless, 59 percent of investors and 72 percent of consumers plan to increase their holdings over the next 12 months. Majority of respondents expect crypto valuations to increase over the next 12 months though investors were less bullish than in our previous survey. 57 percent of investors and 66 percent of consumers expect growth in crypto valuations over the next year.”
The report also finds that Bitcoin remains king, and is owned by the greatest number of survey respondents. Ethereum, Ripple, and Litecoin also made the list.
Interesting to note, over 70% of investors believe Ethereum will be the most successful currency.
However, according to consumers, 78% believe Bitcoin will be the most successful.
Growing Number of Companies using Blockchain
Another 32% of investors and 49% of consumer say employers have plans to roll out blockchain in the near future.
“Four out of the five sectors respondents picked that would be impacted by Blockchain hail from financial services. Both investors and consumers are bullish about Blockchain disrupting money transfer, payments, and asset management sectors. Over 58 percent of investors and 55 percent of consumers think Blockchain will first strike money transfer,” according to the survey.
Finally, the survey found that a majority believe 2025 is when cryptocurrencies could become mainstream currencies.
Want the latest crypto news? Join our Telegram Channel