Bitcoin hits a home run with institutional investors: Fundstrat poll
It seems a general perception that retail investors are always looking for a rosy picture and a sense of optimism to invest in cryptocurrencies and they are more susceptible to the volatile nature of the cryptocurrency market than their institutional counterparts. And once the institutions get set on investing in Bitcoin, they leave their retail counterparts behind by quite a margin. This startling revelation has been brought to light by a poll conducted by Wall Street strategy firm Fundstrat.
To gauge the prevailing sentiment among retail investors Fundstrat conducted a poll on Twitter by asking six questions and then the same questions were asked to institutional investors. The results were revealing.
BTC: The runaway hit among institutions
While a majority of both the sections believed that Bitcoin has bottomed up, institutional investors were ahead by 10 percent. The institutional investors also led the way and were more bullish and optimistic about the revival of Bitcoin in 2019, with 57 percent stating that they believed that Bitcoin price would end the year above $15,000, compared to 40 percent of retail investors.
The question that drew the most attention was when the respondents were asked to choose their best performing coin for 2019. Bitcoin was the runaway hit with institutional investors, with 59 percent of investors placing their trust in this flagship cryptocurrency. EOS was a distant second with 18 percent votes.
XRP: The most polarizing token
But Twitter had a totally different story to tell. With retail investors Ripple (XRP) reigned supreme garnering 46 percent of votes. Bitcoin came second with 31 percent of votes. This points to the growing popularity of XRP among retail investors.
The poll also highlighted Ripple (XRP) as the most polarizing token, with 28 percent of institutions saying that its investment thesis made the least sense. On Twitter, Ripple came a close second to Tron with 31 percent of votes.
In an interesting question, both the stakeholders were asked about the ultimate consequence of US’ strict regulatory stance towards cryptocurrency. And in an overwhelming support, 60 percent of institutional investors believed that it will take some time but other countries will fall in line with America’s stand on digital assets.
Image via Shutterstock
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