Bank of America: Consumer Interest in Crypto Remains Strong

Bank of America’s caller study explains that “despite the crisp correction successful crypto valuations, user involvement successful the assemblage remains strong.” The report, which includes the bank’s caller crypto survey, besides shows “growing interest” successful cryptocurrency’s usage arsenic a means of payment.

Bank of America’s Inaugural Crypto Survey

Bank of America Global Research published a study Monday highlighting the results of its “inaugural crypto/digital plus survey,” which took spot aboriginal this month.

Out of 1,013 survey respondents, 58% said they presently ain crypto oregon integer assets portion 42% said they bash not ain crypto presently but program to bargain immoderate successful the adjacent six months.

In the report, which Bank of America shared with Bitcoin.com News, the probe squad wrote:

Overall, our findings suggest that contempt the crisp correction successful crypto valuations, user involvement successful the assemblage remains strong.

According to the survey results, “91% of respondents expect to bargain crypto / integer assets successful the adjacent 6 months, the aforesaid percent who said they bought successful the past 6 months,” the study details.

Furthermore, 30% of respondents indicated that they bash not program to merchantability immoderate of their crypto holdings implicit the adjacent six months.

The survey besides shows “growing interest” successful crypto’s usage arsenic a outgo method. “Interestingly, 39% and 34% of respondents reported utilizing crypto / integer assets arsenic a outgo method to marque online oregon in-person purchases, respectively,” the study describes, noting:

Additionally, 49% and 53% of respondents expressed involvement successful utilizing crypto / integer assets to marque either online oregon in-person purchases, respectively.

Moreover, the survey includes questions astir non-fungible tokens (NFTs). Amongst integer plus owners who responded, 38% revealed they besides owned an NFT, with implicit 50% of respondents saying they program to bargain NFTs implicit the adjacent fewer months.

Popular Cryptocurrencies Among Respondents

Survey participants were besides asked astir which cryptocurrencies they put in. The study describes:

The astir commonly owned crypto / integer assets were, unsurprisingly, bitcoin and ethereum astatine 75% and 44% of respondents.

Moreover, 26% of respondents said they owned meme cryptocurrencies, similar dogecoin (DOGE) and shiba inu (SHIB).

A further 12% said they owned stablecoins, specified arsenic tether (USDT), usd coin (USDC), and terrausd (UST). Other fashionable cryptocurrencies among respondents were terra (8%), cardano (8%), solana (8%), XRP (6%), and avalanche (5%).

Cryptocurrency terra (LUNA) and algorithmic stablecoin terrausd (UST) collapsed successful aboriginal May. Their controversial implosion has prompted regulators successful assorted countries to investigate the illness and telephone for the urgent regulation of stablecoins.

What bash you deliberation astir the findings from this Bank of America survey? Let america cognize successful the comments conception below.