A staggering 57% of respondents said that they buy and hold cryptocurrency as a long-term investment.
A survey conducted by major crypto custodian Bitcoin IRA revealed that 42% of the platform’s customers expect Bitcoin’s (BTC) price to exceed $15,000 by the end of 2020.
According to a June 29 announcement, Bitcoin IRA surveyed over 300 of its customers who answered their questions on a voluntary basis. A staggering 57% of the respondents also said that they buy and hold cryptocurrency as a long-term investment.
Bitcoin IRA has high hopes for Bitcoin
Bitcoin IRA’s head of marketing, Mike Schrobo, told Cointelegraph that all respondents were retail investors. When asked whether the firm believes the price prediction is accurate, he said:
“We firmly believe in the long-term fundamental benefits and value propositions crypto provides to our financial system. Upward price pressures will likely continue as Bitcoin’s adoption and scarcity increases and as global money supply of fiat increases during the pandemic.”
The survey also revealed that 53% of respondents are interested in earning interest on their investments, either through lending or investing. Furthermore, 46% also showed interest in investing in precious metals, 36% in cannabis and 9% in movies.
Cointelegraph reported at the end of May that the CEO of a market analytics company has gone as far as to say that Bitcoin could take on gold’s store of value role in the future, as the world becomes increasingly digital.