90% of Respondents Plan to Buy Crypto This Year: Bank of America Survey

Despite the sharp correction in crypto valuations, most Americans remain bullish on the cryptocurrencies and have plans to purchase “some amount of crypto” before the end of the year, according to a Bank of America survey. Americans Still Remain Bullish on Cryptocurrencies The survey, which included 1,000 people and was conducted in early June, found that nearly 91% of respondents were preparing to buy cryptocurrencies within the next six months, which was the same percentage as those who said they had bought in the last six months. Additionally, 30% of respondents said they do not plan to sell any of their cryptocurrency in the next six months. The report also noted that 39% of respondents use crypto as an online payment method, and 34% use it for in-person payments. Bank of America analyst Jason Kupferberg said on Monday, “It’s certainly interesting to use it as a payment method, and we think what’s highlighting is the growing adoption of crypto-to-fiat type products.”. Most Respondents Were Short-Term Investors The survey also found that cryptocurrencies made up less than 10% of overall financial investments for 65% of respondents but allocations varied, with 15% holding more than 25% of their total financial investments in digital assets. Most of the respondents were short-term investors, 77% holding crypto for less than a year, the report added. Meanwhile, the CEO of Bank of America stated that the bank has no plans to en...