A new survey by the industry leading blockchain analysis company Chainalysis shows that almost 50% of the surveyed professionals believe that in the course of the next year Bitcoin will outperform the popular stock market index S&P 500.
While a lot of people still avoid the concept of cryptocurrencies, the majority believe that there will be a global digital currency coming in the next decade. Meanwhile, one of the hottest topics right now on the markets is crypto volatility – something that is not killing the crypto industry in the eyes of many professionals.
According to the survey carried out by Chainalysis, 48% of the professionals in the industry believe that in the next 12 months, BTC will be the investment class with the highest growth rate. It has the potential to surpass even the S&P 500, which tracks the stock performance of 500 large companies listed on the stock exchanges in the US.
The crypto news from the survey also show that BTC will have the highest growth rate when compared to the S&P 500, the Bloomberg Barclays Bond Index and the House Pricing Index. Chainalysis also polled finance professionals who are working at banks, credit unions, financial services providers and regulatory agencies.
All of them (or half or them) agreed that Bitcoin will outperform the stock indexes. Besides this conclusion, the respondents found that simply recognizing the value of crypto is not enough, as more than 78% of the survey respondents said that less than half of their retail clients transct with cryptocurrency businesses.
Meanwhile, 28% said that between 1% and 10% of their customers transact with cryptocurrency businesses. One third said that this percentage is at zero (0%). Additionally, 13.5% of the respondents also said that they did not know whether any of their customers had purchased cryptocurrency.
Nonetheless, even 70% of all the surveyed respondents believe that in the next 5 or 10 years, there will be a global digital currency controlled by the US (37.2%) and China (21.2%). The analysts find logical as the former controls the world reserve fiat currency. The latter is getting more involved with blockchain. On the other hand, 29.2% of the respondents find that the global digital currency will be decentralized.
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