Deutsche Bank’s “The Future of Cryptocurrencies” report found fewer than half of crypto traders and investors surveyed would reduce investments or leave the market entirely even if prices fell 80%.
In an online survey of 3,250 U.S. consumers in December, the bank found 680 were cryptocurrency users, with 65% of those having gotten into crypto for the first time over the preceding 12 months. In no surprise, Deutsche found that most investors got into the space primarily to make money. However, 34% said their main motivation was curiosity or exploration, and a similar proportion gave portfolio diversification as the key reason.
A quarter of respondents said they expected bitcoin to be trading over $110,000 in five years, and more than 70% said they planned to increase their crypto activity in the next 12 months.
We’re not talking whales here – a full 61% of investors had committed less than $10,000 to crypto, with 38% less than $1,000.
Men are much more active in crypto than women, according to the survey, with 29% of males having used or invested in digital assets in the last 12 months versus only 14% of females. Men are also more bullish going forward, according to the data.
Looking at those in crypto for transactions, the survey showed 26% perform fewer than five per month, and just 5% more than 100 per month. Transaction size is small, with 67% of them under $100.
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