1 in 5 business investors who do not trade cryptocurrencies say they are “likely” to do so in the future

A survey by JPMorgan revealed that one in five institutional investors of companies that do not currently trade cryptocurrencies believe that their companies are likely to do so in the future.

The survey, conducted with more than 3,400 investors representing 1,500 institutions, revealed that 11% of those surveyed work in companies that trade or invest in cryptocurrencies, while 89% do not.

Nevertheless, It is promising that twice as many institutions appear to be willing to invest in cryptocurrencies than those that have already taken the step, which indicates that institutional money may continue to flow into markets in the short term.

Of those surveyed from companies that do not trade or invest in cryptocurrencies, 22% stated that they believe their companies are likely to invest in digital currencies in the future.

Although some analysts argue that sustained institutional buying will now keep the price of Bitcoin at $ 50,000, a significant number of institutional investors still have no faith in cryptocurrency.

When asked for their opinion on cryptocurrencies, 14% responded that it is something to avoid, while 21% believe that cryptocurrencies are just a temporary fad. Only 7% of investors believe that “it will become one of the most important assets”.

The survey found that most institutions have security concerns; 98% of respondents say they believe that fraud in the world of cryptocurrencies is “somewhat” or “very” prevalent.

This seems to be a huge hurdle for institutional investors right now.; Damien Vanderwilt, co-president of Galaxy Digital, told Bloomberg last month:

“When we think about the conversations we have with companies and institutional clients and with any part of those groups that are considering investing in the sector, the first order problem is security and if the assets they are buying are going to be safe and available, “

Nevertheless, These concerns are not on the minds of big players like Tesla and MicroStrategy; both parties invested billions in crypto in 2021. MicroStrategy recently increased its BTC holding by 27% in February, raising the number of Bitcoin in its treasury reserve to 90,531 BTC.

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