90% of US adults polled plan to buy cryptocurrency within the next six months, Bank of America Study

90% of US adults polled plan to buy cryptocurrency within the next six months, Bank of America Study
  • bitcoinBitcoin (BTC) $ 20,101.00 1.18%
  • ethereumEthereum (ETH) $ 1,094.83 4.87%
  • tetherTether (USDT) $ 1.00 0.09%
  • usd-coinUSD Coin (USDC) $ 1.00 0.07%
  • bnbBNB (BNB) $ 219.07 4.29%
  • binance-usdBinance USD (BUSD) $ 1.00 0.15%
  • xrpXRP (XRP) $ 0.325670 3%
  • cardanoCardano (ADA) $ 0.463269 2.38%
  • solanaSolana (SOL) $ 32.98 7.37%
  • dogecoinDogecoin (DOGE) $ 0.068645 2.07%
BUSINESS

90% of US adults polled plan to buy cryptocurrency within the next six months, Bank of America Study

According to a new Bank of America study, 90 percent of more than 1,000 U.S. people want to acquire cryptocurrency in the next six months.

06/15/2022

According to a new Bank of America study, 90 percent of more than 1,000 U.S. people want to acquire cryptocurrency in the next six months. Furthermore, approximately 40% of respondents stated that they utilize cryptocurrencies as a form of payment.

In an interview with CNBC on Monday, Bank of America (BOA) analyst Jason Kupferberg discussed his cryptocurrency outlook. He was questioned about a recent Bank of America study that revealed persistent interest in cryptocurrency.

Bank of America: Crypto Survey

The study was performed early this month, following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd, according to the analyst (UST). He went on to say that over 1,000 U.S. adults took part, and that the sample size was “very significant.”

Kupferberg opined:

It was fascinating to observe that 90% of respondents said they intend to buy some cryptocurrency in the next six months.

“That was actually the same percentage that reported having actually bought some crypto during the previous six months,” he continued.

Furthermore, 30% of all respondents stated that they do not intend to sell their cryptocurrency in the next six months.

Using Crypto as a Payment Method

The Bank of America study also inquires whether respondents anticipate using bitcoin or other cryptocurrencies to pay for products and services in the near future.

According to the findings, 39% of respondents use cryptocurrencies as a form of payment for online purchases.

The analyst commented:

Using it as a payment method is certainly intriguing, and we believe that it highlights the rising use of some, so-called, crypto-to-fiat-type items.

He claims that the Coinbase Visa card, for example, lets consumers to use their bitcoins to make payments anywhere Visa is accepted. He pointed out that merchants do not need to sign up to take cryptocurrencies because the coins are converted to fiat currency before they arrive at stores.

In response to the vast amount of cryptocurrencies in circulation and decentralization, he stated:

In actuality, we believe there are far too many cryptocurrency exchanges. There are an excessive number of cryptocurrencies and tokens.

Kupferberg went on to say that “some kind of consolidation” is required. “Perhaps it’s a little like the dot-com period.” There were an excessive number of dot-com stocks. “There was a major shakeout, and there were truly large dot-com companies that became extremely successful,” said the Bank of America analyst.

By Elah Mae Ariate Wozinga Staff

Do you want to buy cryptocurrency in the next six months?

Created with Perfect Survey

Statistics - View the results

2 comments

Howdy! I know this is kind of off topic but I was wondering which blog
platform are you using for this site? I'm getting fed up
of WordPress because I've had issues with hackers and I'm looking at alternatives for another
platform. I would be awesome if you could point me in the direction of a good platform.

What's Happening i'm new to this, I stumbled upon this I've discovered
It positively helpful and it has aided me out loads.
I hope to contribute & assist other customers like its aided me.
Good job.

Leave a Reply

Your email address will not be published.

Open chat
Need Help?
Hello!
Can we help you?