{"id":12786,"date":"2022-06-16T14:45:47","date_gmt":"2022-06-16T14:45:47","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/consumer-interest-in-crypto-remains-strong-featured-bitcoin-news\/"},"modified":"2022-06-16T14:45:47","modified_gmt":"2022-06-16T14:45:47","slug":"consumer-interest-in-crypto-remains-strong-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/consumer-interest-in-crypto-remains-strong-featured-bitcoin-news\/","title":{"rendered":"Consumer Interest in Crypto Remains Strong \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bank of America\u2019s new report explains that \u201cdespite the sharp correction in crypto valuations, consumer interest in the sector remains strong.\u201d The report, which includes the bank\u2019s new crypto survey, also shows \u201cgrowing interest\u201d in cryptocurrency\u2019s use as a means of payment.
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Bank of America\u2019s Inaugural Crypto Survey<\/h2>\n

Bank of America Global Research published a report Monday highlighting the results of its \u201cinaugural crypto\/digital asset survey,\u201d which took place early this month.<\/p>\n

Out of 1,013 survey respondents who identified themselves as current or prospective crypto\/digital asset investors, 58% said they currently own crypto or digital assets. The other 42% said they do not own crypto presently but plan to buy some in the next six months.<\/p>\n

In the report, which Bank of America shared with Bitcoin.com News, the research team wrote:<\/p>\n

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Overall, our findings suggest that despite the sharp correction in crypto valuations, consumer interest in the sector remains strong.<\/p>\n<\/blockquote>\n

According to the survey results, \u201c91% of respondents expect to buy crypto \/ digital assets in the next 6 months, the same percentage who said they bought in the last 6 months,\u201d the report details.<\/p>\n

Furthermore, 30% of respondents indicated that they do not plan to sell any of their crypto holdings over the next six months.<\/p>\n

The survey also shows \u201cgrowing interest\u201d in crypto\u2019s use as a payment method. \u201cInterestingly, 39% and 34% of respondents reported using crypto \/ digital assets as a payment method to make online or in-person purchases, respectively,\u201d the report describes, noting:<\/p>\n

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Additionally, 49% and 53% of respondents expressed interest in using crypto \/ digital assets to make either online or in-person purchases, respectively.<\/p>\n<\/blockquote>\n

Moreover, the survey includes questions about non-fungible tokens (NFTs). Amongst digital asset owners who responded, 38% revealed they also owned an NFT, with over 50% of respondents saying they plan to buy NFTs over the next few months.<\/p>\n

Popular Cryptocurrencies Among Respondents<\/h2>\n

Survey participants were also asked about which cryptocurrencies they invest in. The report describes:<\/p>\n

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The most commonly owned crypto \/ digital assets were, unsurprisingly, bitcoin and ethereum at 75% and 44% of respondents.<\/p>\n<\/blockquote>\n

Moreover, 26% of respondents said they owned meme cryptocurrencies, like dogecoin (DOGE) and shiba inu (SHIB).<\/p>\n

A further 12% said they owned stablecoins, such as tether (USDT<\/a>), usd coin (USDC), and terrausd (UST). Other popular cryptocurrencies among respondents were terra (8%), cardano (8%), solana (8%), XRP<\/a> (6%), and avalanche (5%).<\/p>\n

Cryptocurrency terra (LUNA) and algorithmic stablecoin terrausd (UST) collapsed in early May. Their controversial implosion<\/a> has prompted regulators in various countries to investigate<\/a> the collapse and call for the urgent regulation<\/a> of stablecoins.<\/p>\n

What do you think about the findings from this Bank of America survey? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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