Is cryptocurrency a “flash in the pan”?
According to a report by Deutsche Bank,
American consumers are showing a growing interest in cryptocurrencies,
which is expected to be further democratized in the future.
American consumers are showing a growing interest in cryptocurrencies.
Currently, less than 1% of people consider cryptocurrencies to be a “flash in the pan,”
a significant decrease from the past. Among those surveyed,
more than half of them consider cryptocurrencies to be an important asset class and payment method.
Moreover, 65% of people say cryptocurrencies can replace cash.
Deutsche Bank surveyed more than 3,600 consumers in the United States, the United Kingdom, and Europe in March and July.
Analysts Marion Laboure and Sai Ravindran wrote:
"We expect the democratization of cryptocurrencies to advance further over the next 2-3 years, driven by exchange-traded funds (ETFs), Fed policy, and regulation."
