🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Mizuho Surveyed Investors on Whether Bitcoin is a Bubble. Here are Results

Published 2022-04-26, 08:32 a/m
© Reuters.
MFG
-
BTC/EUR
-
BTC/USD
-
BTC/EUR
-
BTC/JPY
-
BTC/USD
-
BTC/JPY
-
BTC/GBP
-
BTC/GBP
-

In a recent survey, Mizuho found that investors have almost evenly split views on whether Bitcoin is in a bubble.

51% of surveyed investors believe that the world’s largest cryptocurrency is a bubble, while the remaining 49% believe it is not.

However, 35% of those who think that Bitcoin is a bubble said they bought the cryptocurrency anyway and estimate it will reach up to $55,000 by the end of 2022. On the other hand, those who think Bitcoin is not a bubble do not expect a significant upside by year-end. On an average basis, both groups expect the cryptocurrency to rise about 15-25% during that period.

Mizuho surveyed 400 investors and found that 60% of those who own Bitcoin said they view it as an investment, while only 28% said they own it as a currency. Roughly 30% of respondents said they bought Bitcoin because others own it too, and/or are unsure why they bought the cryptocurrency.

“How prevalent is Bitcoin maximalism? It turns out maximalism is limited, as just 21% of respondents reported only caring about Bitcoin vs. the remaining ~80% that are interested in other cryptocurrencies as well,” analyst Dan Dolev wrote in a client note.

The survey results also showed that only 21% of respondents said they are solely interested in Bitcoin, 35% of them are also interested in Ethereum, 8% said they like Solana as well, and 37% said they are interested in other altcoins too.

What’s even more interesting is that just 12% of respondents who believe Bitcoin is a bubble said they are only interested in Bitcoin, compared to the overall average of 21%.

By Senad Karaahmetovic

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.