Monday, April 12, 2021
pool-ads
Home Latest News Business JP Morgan Poll: 22% of Investors Say Their Institutions Likely to Trade...

JP Morgan Poll: 22% of Investors Say Their Institutions Likely to Trade or Invest in Cryptocurrencies

According to the latest JP Morgan survey, 22% of respondents said their companies were likely to trade or invest in cryptocurrencies.

According to the report, the results of this latest survey reflect fresh data that supports the argument that more mainstream institutions are accepting crypto assets. Significant companies, such as Tesla, have already announced their cryptocurrency holdings since the beginning of 2021. Similarly, major hedge funds such as Blackrock have shown an interest in gaining exposure to crypto-assets such as bitcoin (BTC).

Nonetheless, according to the same survey, the vast majority (78 percent) of investors whose institutions are yet to accept cryptocurrencies have no intention to invest or trade in cryptocurrencies. Furthermore, almost half of the respondents (98 percent) “believe fraud in the crypto world is ‘somewhat’ or ‘very much prevalent.’”

According to news.bitcoin.com, given their doubts about investing in cryptocurrencies, 58 percent of those polled agree that this new asset class is “here to stay.” 7% of investors, on the other hand, believe that cryptocurrencies “will become one of the most important assets.”

Since Square Inc. disclosed its BTC assets at the beginning of Q4 2020, more listed firms have reported the value of their cryptocurrency holdings. The new data from bitcointreasuries.org, a website that lists public and private corporations that hold BTC, backs up this statement. Major firms and hedge funds currently own more than 1.36 million bitcoins, or 6.49 percent of the crypto asset’s circulating supply, according to the site’s data.

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
magazine-ads

Must Read

The CEO of the world’s largest crypto exchange has “nearly 100%”...

0
Changpeng Zhao, the founder and CEO of Binance, the world's largest cryptocurrency exchange, and one of the world's biggest crypto billionaires, owns nothing except...