According to a Bank of America Survey, 90% of Respondents Intend to Acquire Crypto in 2022
According to Bank of America research, many individuals see the crypto winter as an investing opportunity.
Numerous investors are already discussing the potential duration of this crypto winter. Still, Bank of America reports that the majority of shops are waiting for the optimal moment to purchase cryptocurrencies this year.
A study of 1,000 persons performed by Bank of America (BAC) at the beginning of June revealed that 90% of respondents intended to purchase cryptocurrencies over the following six months.
In addition, the survey revealed that the number of users who had cryptocurrencies was comparable to the number of users who want to purchase them. This indicates that the euphoria for cryptocurrencies is far from finished, as Warren Buffett and other well-known crypto sceptic investors have often said.
30% of Crypto Investors Wish to Hold Their Tokens
According to Bank of America, thirty percent of respondents stated they had no plans to sell their cryptocurrencies over the next six months, despite the market’s significant collapse. According to other experts, though, the negative trend is not yet done.
Jason Kupferberg, a Bank of America analyst, said in an interview with CNBC that researchers collected their data after the crash of Terra’s LUNA currency and that the findings were “interesting” since they indicate that investors are optimistic about cryptocurrencies. However, he cautioned that people must be cautious with the news since FUD might create a more pronounced decline in the cryptocurrency market.
“Today is a prime example of negative news, and it wouldn’t surprise me to see another decline in crypto stocks and the Bitcoin price.”
Another noteworthy data is that 39% of respondents reported using cryptocurrencies as a payment method for online purchases, which contradicts the narrative of cryptocurrency supporters who see these assets as a hedge against inflation.