BofA Survey Shows 91 Percent Adults Intend to Buy Crypto in the Future

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Cryptocurrency Bitcoin
Photo by Pierre Borthiry on Unsplash

The collapse of the crypto market isn’t scaring away existing cryptocurrency investors and prospective buyers. At least, this is what a recent survey conducted by Bank of America shows.

BofA’s survey took place in early June and included 1,013 participants. When asked whether they intend to buy crypto in the next six months, 91 percent of responders said they do. Curiously, for almost 50 percent of them, the intended purchase will be the first venture in cryptocurrency.

The existing crypto users said that they got into digital assets because of price appreciation and increased interest in technology, among other reasons. “I think the price will go up,” was the most common response according to the results of the survey.

Bitcoin, which lost close to 30 percent of its value in the past month, proved to be the most popular cryptocurrency. More than 75 percent of existing crypto investors reported Bitcoin ownership. The second most popular cryptocurrency, Ethereum, is part of 44 percent of portfolios. The survey also showed that there is a growing interest in using crypto as a payment method.

However, it is important to note that most of the participants are not long-term investors. Also, most of the reporter investments have been in the low figures.

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