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Bank of America: Consumer interest in cryptocurrencies remains strong




 Bank of America: Consumer interest in cryptocurrencies remains strong


The new Bank of America report explains that "despite a sharp correction in cryptocurrency valuations, consumer interest remains

this sector is strong ".


The report, which includes the bank's new cryptocurrency survey, also showed "growing interest" in using cryptocurrency as a means of payment.


Bank of America's opening encryption survey


Bank of America:

 Global Research published a report on Monday highlighting the results of the "Opening Survey of Encrypted/Digital Assets," which was conducted early this month.


Of the 1,013 survey participants who identified themselves as current or potential encryption/digital asset investors, 58% said they currently have digital assets or encryption. The other 42% said they don't own digital currencies right now but plan to buy some in the next six months.


The research team wrote in the report, which Bank of America shared with Bitcoin.com News:


Overall, our findings suggest that despite a sharp correction in cryptocurrency valuations, consumers' interest in the sector remains strong.


  1. According to the results of the survey
  2. "In the next six months, 91% of respondents expect to buy digital/digital assets."
  3. Which is the same percentage who said they had bought in the past six months,” according to the report.


Furthermore, 30% of participants indicated that they do not plan to sell any of their cryptocurrency holdings over the next six months.


The survey also shows "increased interest" in using encryption as a payment method.


"Interestingly, 39% and 34% of respondents reported using encrypted/digital assets as a payment method to make online purchases or personal purchases. respectively "  as the report explains


Noting:

In addition, 49% and 53% of participants expressed interest in using digital/encrypted assets to make purchases either online or in person, respectively.


Furthermore, the survey includes questions about non-replaceable codes (NFTs).


Among digital asset owners who responded, 38% revealed that they also own NFT, with more than 50% of participants saying they plan to buy NFT over the next few months.


Common cryptocurrencies among respondents


  • Survey participants were also asked about the cryptocurrencies in which they invest. The report describes
  • It was no surprise that the most commonly owned cryptocurrency
  • digital assets are bitcoin and ethereum at 75% and 44% of participants.
  • Furthermore, 26% of participants said they owned cryptocurrencies
  • such as Dojquin (DOGE) and Shipa Eno (SHIB).


Another 12% said they owned stable currencies


such as tetrausd (USDT)

usd coin (USDC) and terrausd (UST). Other common cryptocurrencies among respondents were Terra (8%), Cardano (8%), Solana (8%), XRP (6%), and Avalanche (5%).


Cryptocurrency terra (LUNA) and algorithmic terrausd (UST) collapsed in early May. Pushing the Controversial Internal Explosion Organizers


in various countries to investigate the collapse and call for urgent regulation of stable currencies.




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