Bitcoin is breaking more and more records and is even on the verge of dethroning traditional assets in the race for yield. Recently commissioned by Coinbase in the USA, a new survey on cryptocurrencies reveals an unexpected trend among institutional investors. The survey was conducted by Institutional Investor’s Custom Research Lab from October 19 to November 6, 2023. The results were quite impressive.
57% of institutional investors hope for a price rise
As part of the survey commissioned by Coinbase, 250 US institutional investors were interviewed. 57% of institutional investors expect the price of cryptocurrencies to increase in the next 12 months. However, it should be noted that only 8% shared this opinion during the same survey conducted last year.
The investigation also revealed that 64% of institutional investors intend to increase their cryptocurrency allocations in the next three years. Nearly 45% of respondents who are outside the crypto space said they will invest in crypto in the next three years.
More than 33% said they had increased their cryptocurrency allocations over the previous 12 months. On the other hand, 50% indicated that they maintained stable cryptocurrency allocations over the previous 12 months.
The obvious resilience and optimism shown by institutional investors reflect the expectation of an increase in the price of cryptocurrencies in 2024. We are visibly at a BTC moment of the year. The ecosystem awaits both the halving 2024, the approval of Bitcoin Spot ETFs by the SEC and the surprises that crypto has in store at each of these events.
Cryptos: 3rd best asset class according to institutional investors
The Coinbase survey also revealed some very interesting elements about the place of cryptocurrencies on the asset spectrum. Surprisingly, cryptocurrencies found themselves in 3rd position out of a total of 14 asset classes.
Private equity and US stocks were ranked 1st and 2nd respectively. The comparison was made based on the risk-adjusted profitability parameter over the next three years.
These findings allow us to reach a single conclusion. Cryptocurrencies will perform exceptionally well as soon as the US crypto regulatory environment is clarified. What is certain is that 2024 has big surprises in store for the crypto markets.
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