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Investors have a better attitude towards cryptocurrencies

Economist Impact analysts believe more investors are seeing digital currencies as a useful tool for portfolio diversification.

The Economist published the results of a survey on consumer confidence in digital payments and the obstacles that are preventing them from transferring their funds into digital assets. The report compares trends from previous surveys on the same topic for 2020 and 2021.

The study included 3,000 respondents, half of whom lived in developed countries such as the U.S., France, Singapore, the U.K. and South Korea.

The other half were from developing countries such as Brazil, Turkey, Vietnam, South Africa and the Philippines.

About 75% of participants had a college degree and were actively using digital ways to pay for goods or services. The survey was conducted in two stages, with 150 institutional investors and people associated with corporate governance taking part in the second stage. This gave an insight into the attitudes of the traditional financial system towards the subject of the survey.

The majority of investors (85%) agreed that open-source cryptocurrencies, such as bitcoin (BTC) and ether (ETH), are useful as a diversifier in an investment portfolio or treasury account. Investors confirmed that demand for all crypto-assets, including central bank digital currencies (CBDC) and corporate blockchains, has grown significantly over the past three years.

According to the report, the growth of the Web3 industry and various meta-village projects has the potential to increase demand, with 74% of respondents agreeing that non-interchangeable tokens (NFTs) are a new asset class that more organizations are turning their attention to. Also, about 65% of CEOs surveyed believe that digital currencies will replace fiat currencies in their countries.

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