Site icon Stories Cover

Bank of America: 90% of people will buy crypto during a recession

The downturn in the crypto market seems like a disaster. But people surveyed by Bank of America see it as an investment opportunity.

Bankers conducted a study in early June on a group of 1,000 people. As many as 91% of respondents answered that they were ready to buy cryptocurrency in the next six months. So, the optimism of investors has not yet ended. And this despite the bear market.

Bank of America also interviewed those who already own cryptocurrencies. 30% do not plan to sell savings, whatever the price. 39% of owners answered that they use their assets for online purchases. That is, for them, crypto is not a way to save value in the face of inflation.

Bank of America is surprised by the results of the survey. As analyst Jason Kupferberg said, after the fall of LUNA Terra, they did not expect such a positive attitude of investors towards cryptocurrencies.

The bank itself does not plan to become a member of the crypto market. According to CEO Brian T. Moynihan, financial institutions have no right to engage in such activities until the authorities pass regulations. Perhaps this will happen soon: last week, senators have already presented a draft law on crypto regulation.

Exit mobile version