For a certain duration now several surveys have provided information about the public view about Bitcoin. The surveys were spread in different countries like Japan, USA among others. The group that had not been grilled were the institutional investors. A report about institutional investors that has been released is very interesting to read.
According to a survey conducted between 6th and 13th November on 317 institutional traders, the traders revealed different views on Bitcoin. When asked whether they had bought cryptocurrencies before 31% said yes with 69% saying no. Of the 69% who had not bought 36% are considering buying with 31% saying they would never buy. Of all the institutions only 1.5% had no idea about Bitcoin.
When the same group was asked about ICOs only 8% had invested in ICOs. 48% confessed to having not had interest in the same with 29% considering investing in them. 15% said that they only invest in ICO after more regulations are put in place.
In a report, Coinbase announced last week that it was starting cryptocurrency asset management for institutional investors. Before the announcement, a survey was conducted on the level of trust in current Bitcoin custodian offering. 9% have confidence while 26 percent have low confidence in the exchange platforms to safeguard their assets.
Is Bitcoin a store of value?
The survey concluded by wanting to know institutions view about Bitcoin. According to 41% Bitcoin is a store of value. This institution’s actually compared Bitcoin to Gold. 39% have a view that Bitcoin is a bubble that will eventually crash. 27% think the value of Bitcoin will continue to rise gradually with 17% saying the value of Bitcoin will have doubled in 6months.
For investors who are relishing single-digit growth Bitcoin is an asset that can only be watched with envy and anxiety due to its swift growth. Actually, no one can estimate where Bitcoin will be 6months from now. With all that one thing is certain everyone is watching closely.