SharesPost Mid-Year #Crypto Survey: #Investors Remain Cautiously Optimistic Despite Correction
SAN FRANCISCO - September 5, 2018 (Investorideas.com Newswire) Despite a steep market correction in cryptocurrencies, a majority of accredited and retail investors are planning to buy more digital securities over the next 12 months, according to the Mid-Year Cryptocurrency and Blockchain survey by SharesPost, the leading provider of liquidity solutions to the private growth asset class.
Bitcoin (BTC) and Ethereum (ETH) have declined about 48% since SharesPost’s inaugural crypto survey in January 2018. However, 59% of the July survey respondents - a slightly lower percentage than in January - say they will allocate more capital to digital currencies over the next year.
"Based on our survey, crypto investors haven’t lost faith and are planning to buy more," said Rohit Kulkarni, Managing Director and Head of Research of SharesPost, Inc. "Importantly, this survey indicates that this correction is separating long-term believers from short-term day traders. Investors remain bullish on Bitcoin and Ethereum over the next 18 months because they are the leading digital currencies globally. Both enjoy relatively low correlation to other asset classes and can be an ideal way for investors to diversify a portfolio of stocks and bonds."
Among the findings from SharesPost’s Mid-Year survey:
- BTC is widely held among accredited and retail investors, while ETH and XRP (Ripple) ownership skews toward accredited investors. Since the correction, BTC has become the clear preference for accredited and retail investors. As a result, survey respondents say BTC is likely to perform better than ETH in the future. One reason for the diminished outlook for ETH is the lack of overwhelmingly successful Initial Coin Offerings (ICOs). ETH has been the digital currency of choice for most ICOs.
- A growing number of companies are implementing blockchain technology. Thirty-two percent of accredited investors and 49% of retail investors say their employers are planning to roll out blockchain technology in the near future. The percentage of retail investors who say their employers are considering a blockchain implementation grew 12% over the past six months, more support for the continuing momentum for blockchain.
- Cryptocurrencies and blockchain technology may take longer to go mainstream. In spite of the growing deployment of blockchain technology, accredited and retail investors have tempered their expectations about the widespread adoption of cryptocurrencies. The percentage of accredited investors who think crypto will go mainstream in 2020 dropped to 27% from 51% in July from earlier in the year. Among retail investors, it fell to 37% percent from 42% since the beginning of the year.
The SharesPost Mid-Year survey was conducted in July and included online responses from 2,490 retail investors and 528 accredited investors.
For more information about cryptocurrencies and blockchain technology, please see our most recent report, Decrypting Blockchain: Unlocking The Internet Of Value. To view a complete list of SharesPost research reports, click here.
About SharesPost, Inc.
SharesPost is a FINRA-registered broker-dealer, SEC-registered Alternative Trading System (ATS) and Registered Investment Advisor. SharesPost helped launch the secondary market for private tech companies in 2009 and has built the leading platform for secondary transactions and digital securities. SharesPost provides the private tech asset class with a suite of trading and lending solutions to facilitate shareholder and option holder liquidity. With more than $4 billion in secondary market transactions in the shares of more than 200 leading technology companies, SharesPost provides the trading, research and online tools to transact in the private market with confidence. For more information, visit sharespost.com.
Any securities offered are offered by SharesPost Financial Corporation, a member of FINRA/SIPC. SharesPost Financial Corporation and SP Investments Management are wholly owned subsidiaries of SharesPost Inc. Certain affiliates of these entities may act as principals in such transactions.
Investing in private company securities is appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements. These statements include, but are not limited to, statements about research on late-stage, venture-backed companies. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond SharesPost’s control. These factors include, but are not limited to, factors detailed in the white paper. We undertake no obligation to release any revisions to any forward-looking statements.
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