In the midst of the sharp correction in crypto valuations, an interesting survey by Bank of America reveals that 90% of surveyed U.S. adults plan to buy some crypto in the next 6 months.
In an interview, the Bank’s analyst, Jason Kupferberg, stated that the bank conducted a survey of 1,000 US adults following the collapse of the Terra (LUNA) ecosystem, but prior to this week’s crypto capitulation.
“It was interesting to see that 90% of respondents said that they do plan to buy some amount of crypto in the next six months.”
And it was the same percentage of people who said they had purchased some cryptocurrency in the previous six months.
When asked if they want to use it as a store of value or a payment method, although there has not yet been widespread adoption, Kupferberg stated it is still possible to see an “increasing use of certain types of crypto-to-fiat products,” citing the benefits offered by Coinbase’s VISA card as an example.
Kupferberg compares it to the dot-com era, predicting that some projects will fail before the ones that remain are widely adopted.
He also pointed out that bitcoin is highly correlated with stocks, particularly high-growth technology stocks.
Also read: Bank of America isn’t Hopping on Crypto Anytime Soon
