Investors’ perception of crypto is changing for the better: Economist survey
According to an economist survey, investors’ perceptions of cryptocurrency are improving. According to a report released by the Economist, cryptocurrency adoption has a bright future ahead of it, with poll respondents expecting more demand in the near future.
The findings of Economist Impact’s ‘Digimentality Report,’ which looked into consumer trust in digital payments and the roadblocks that have delayed the digitization of core monetary tasks, were released. As it compares patterns from prior surveys on the issue conducted in 2020 and 2021, the data gained provides fuel for thought and perspective.
A consumer study of 3,000 customers was conducted in early 2022, with half of the respondents hailing from developed economies such as the United States, the United Kingdom, France, South Korea, Australia, and Singapore.
Around 75% of the participants had a tertiary education or higher and had paid for goods or services using a range of digital payment methods. The final section of the survey included 150 institutional investors and corporate treasury management respondents, providing insight into the traditional financial system’s opinion on the topic.
Investors agreed that open-source cryptocurrencies like Bitcoin (BTC) or Ether (ETH) are valuable as a diversifier in a portfolio or treasury account, which was a major takeaway.
According to the paper, the emergence of Web3 and several Metaverse projects may boost this requirement. Non Fungible tokens (NFT) are an emerging asset class that businesses expect to buy and trade, according to 74% of respondents.
Another hot topic was central bank digital currency (CBDCs), with a rising proportion of customers anticipating their governments or central banks to create a workable CDBC system by 2025. CBDCs, according to 65 percent of executives polled, are expected to replace actual fiat currencies in their countries of operation.
The major barrier to institutional investors or corporate treasuries using cryptocurrencies has been identified as regulation. Market trust or understanding of the space was noted by 35 percent of respondents as an impediment, down from 47 percent in the 2021 poll.
This paralleled Treasury Secretary Janet Yellen’s views on digital asset policy and regulation, which she delivered in May 2022. She identified financial education and technology resources as hurdles to cryptocurrency adoption.