A survey by crypto exchange Bitstamp found that 54% of retail investors believe that cryptocurrencies will overtake traditional/fiat currencies within 10 years. The survey reflects the opinions of about 28,000 respondents – 5,000 institutional investment strategy decision-makers and 23,000 retail investors, across 23 countries.
Bobby Zagotta, Bitstamp US CEO, highlighted that the survey shows that crypto is a long game. The crypto market needs to build for the next 50 – 100 million customers. Zagotta believes the industry needs to enable the infrastructure that supports the next wave of investors.
The survey established that crypto is trusted less than property ownership, which is trusted by about 80% of retail investors and institutions. 69% saw shares and stocks as trustworthy, and 67% of retail respondents regard crypto as a trustworthy investment. 70% of institutional investors said they trust crypto, and 68% actively recommend digital assets in investment strategies. The survey highlighted that DeFi investment vehicles – stablecoins, NFTs, and blockchain networks have trust ratings of about 60% across retail and institutional investors.
Zagotta pointed out that as people learn more about crypto, they trust it more. This is positive for crypto’s long-term potential. In emerging economies, individuals and institutions are more likely to trust crypto – 80% do, compared to 62% in more developed financial markets.
Respondents say regulation remains a hurdle to crypto investing. About half of the retail investors and more than a third of institutional investors want crypto to be unregulated. But Zagotta feels that certain facets of crypto regulation should be non-negotiable, such as prioritizing privacy, maintaining blockchain’s transparency, and remaining independent from third parties.
With US President Joe Biden signing the crypto executive order last month, Bitstamp expects more regulation in the coming months.