A recent survey by JP Morgan found that 22% of respondents said their organizations are likely to trade or invest in cryptocurrency. This figure (22%) is double the percentage of respondents (11%) who answered yes to the question of whether their organization already trades or invests in cryptography.

Institutional embrace of crypto

According to the report, the results of this latest survey provide new evidence to support the claim that an increasing number of traditional institutions are moving to cryptocurrency assets. As of early 2021, major companies like Tesla have opened cryptocurrency shares. Similarly, large hedge funds such as Blackrock have indicated that they want to invest in cryptographic assets such as Bitcoin (BTC).

However, the same report shows that the vast majority (78%) of investors whose institutions have not yet moved to cryptocurrencies have no intention of investing or trading in cryptocurrencies. Moreover, almost all respondents (98%) think that fraud is fairly or very common in the world of cryptography.

Cryptos are here to stay.

Despite this perception or reluctance to invest in cryptocurrencies, about 58% of respondents believe this new asset class is here to stay. On the other hand, about 7% of investors say that cryptocurrencies are becoming one of the most important assets.

More publicly traded companies have disclosed the value of their cryptocurrency holdings since the beginning of the fourth quarter of 2020, when Square Inc. disclosed its holdings in BTC. This is also confirmed by the latest data from bitcointreasuries.org, which tracks public and private companies that own BTC. According to the website, more than 1.36 million Bitcoins, or 6.49% of the outstanding crypto stock, are currently held by large corporations and hedge funds.

Despite this apparent acceptance of digital assets by traditional institutions, about 21% of investors surveyed still consider cryptocurrency a passing fad. Moreover, about 14% of respondents agree that cryptocurrency assets are characterized as square measures of tradable positions.

Do you agree that cryptography is becoming one of the most important assets? Tell us what you think in the comments below.

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