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Cryptocurrencies

56 percent of investors in cryptocurrencies intend to buy more

Monday 12 March 2018 | 11:58 AM CET

New research from Citigate Dewe Rogerson has revealed that 56% of cryptocurrencies investors intend to buy more over the next 12 months.

Despite the recent volatility in the market, just 8% intend to sell all their cryptocurrency holdings. Between now and 2021, 32% think there will be a dramatic increase in valuations, and a further 18% anticipate a slight rise. Less than one in three (28%) think there will be a decline.

Some 62% of financial professionals interviewed expect there to be a dramatic increase in the level of regulation around cryptocurrencies over the next two years, while a further 11% anticipate a slight increase.

In the beginning of 2018, the market cap for cryptocurrencies was around USD 800 billion. Over half (59%) of financial professionals estimate that it will be worth over USD 1 trillion and 15% think it could be over USD 2 trillion within the next three years. Just 19% think the market will shrink and that the market cap will be below USD 800 billion by 2023.

More than two thirds (68%) of financial professionals interviewed think larger companies will increase their holdings of cryptocurrencies over the next three years for a variety of reasons and 54% think there will be an increase in them using cryptocurrencies as part of their fund raising. Half (50%) there will a rise in them using these to pay suppliers. 

Some 22% of financial professionals think there will be a dramatic increase in the use of digital currencies as payment or money transfer methods over the next five years, and 48% think there will be a ‘moderate’ rise in their use for this. At the same time, 44% of financial professionals interviewed believe there will be a dramatic increase in the use of blockchain technologies over the next five years, and 33% think there will be a moderate rise.

The report's results are based on the following methodology: 146 people in the UK who have invested in cryptocurrencies were interviewed on 28th February 2018. Of these, 104 still owned some cryptocurrencies. 30 financial services professionals were interviewed in February and March 2018 by the market research company PollRight. The whole research was conducted online.

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