Bitcoin experienced a great lift after a poll showed the best evidence ever that investors, hedge funds, and City banks are all warming to the fascinating idea of cryptocurrencies. The years of being called “worthless, an asset for criminals, and a bubble” may soon be over for those that believe in bitcoin.
The Result of the Survey
The results of a poll have shown some evidence of how 20 percent of financial institutions are planning on how to trade cryptocurrencies within the next one year. The huge sentimental reversal from firmly established cynicism to positivity has been explained by a professional in the exchange market. The expert said the significant turnaround is as a result of “shifting opinion tides” in the financial industry towards the fascinating technology.
Attempting to provide an answer to the question of whether institutional investors want to put the life savings of individuals into an asset that is extremely volatile or not, the poll gathered information from over four hundred clients across the platforms of Thomson Reuters – including trading desks and hedge funds.
The Financial Institutions Are Making a U-Turn
The poll found that among the clients that are willing to go into crypto trading such as Bitcoin, 70% of them said their plan is to start trading in a couple of months from now. The financial industry has been extremely dismissive of the movement of cryptocurrencies. They have called it worthless, an asset for criminals, and a bubble – says the CEO of cryptocurrency exchange Kevin Murcko.
But based on the results of the survey today, there is a clear demonstration that while the banking sector is saying one thing, they are doing something else. The Managing Director of eToro in the United Kingdom – Iqbal V Gandham said that his company has witnessed a significant increase in the opening of corporate accounts and that they are getting more inquiries from families.