A recent survey sponsored by the Nasdaq-listed crypto exchange Coinbase shows that institutional investors increased their allocations during the crypto winter. The firm emphasized that there is “a strong signal of the acceptance of crypto as an asset class” and “the price outlook over the long term remains positive.”
Coinbase’s Institutional Investor Survey
The Nasdaq-listed cryptocurrency exchange Coinbase published Thursday the findings from a survey it sponsored to understand how decision-makers at U.S. institutions view digital assets. The survey was conducted independently by Institutional Investor Custom Research Lab between Sept. 21 and Oct. 27.
A total of 140 institutional investors in the U.S. participated in the survey, representing about $2.6 trillion in assets under management. Coinbase was not involved in sourcing the respondents.
Institutional investors increased their allocations during the crypto winter, with many using this as an opportunity to learn and build for the future.
“62% of investors who are currently invested in crypto increased their allocations in the past 12 months (vs. 12% who decreased their allocations). This is evidence that institutional investors have continued to take a long-term view of the asset class even as prices have fallen,” the crypto firm detailed.
In addition, Coinbase shared:
58% of investors expect to increase their allocations over the next three years. A majority of investors (59%) are currently using or planning to use a buy-and-hold approach.
“Overall sentiment towards digital assets has remained positive with 72% supporting the view that digital assets are here to stay (86% among those currently invested in crypto and 64% among those planning to invest),” Coinbase continued, elaborating:
Given the current climate, this is a strong signal of the acceptance of crypto as an asset class.
“While some investors categorize digital assets as either real assets/commodities or as alternative assets, more investors are creating their own category for crypto or classifying crypto as part of innovation or emerging technologies. This is also evidence of a long-term opportunity that may emerge in the future,” Coinbase further described.
Despite crypto winter, Coinbase said institutional investors are still bullish about crypto long-term, stating:
The price outlook over the long term remains positive with 71% of investors saying that they expect digital asset valuations to increase over the long term.
What do you think about these findings by Coinbase? Let us know in the comments section below.
Source: Featured Archives – Bitcoin News
Elon Musk Reaffirms Offer to Eat Happy Meal on TV if McDonald’s Accepts Dogecoin
Tesla and Twitter CEO Elon Musk has reaffirmed his commitment to eat a McDonald’s Happy Meal on TV if the fast food chain accepts the meme cryptocurrency dogecoin (DOGE). Musk originally made the offer a year ago but McDonald’s responded with a counteroffer at the time. Elon Musk, McDonald’s, and Dogecoin Payments Tesla, Spacex, and […]
Tesla and Twitter CEO Elon Musk has reaffirmed his commitment to eat a McDonald’s Happy Meal on TV if the fast food chain accepts the meme cryptocurrency dogecoin (DOGE). Musk originally made the offer a year ago but McDonald’s responded with a counteroffer at the time.
Elon Musk, McDonald’s, and Dogecoin Payments
Tesla, Spacex, and Twitter CEO Elon Musk has reaffirmed his commitment to eat a McDonald’s Happy Meal on Television if the fast food giant starts accepting payments in dogecoin (DOGE).
It has been a year since the billionaire tweeted his offer on Jan. 25, 2022. However, McDonald’s did not accept his offer at the time. “Only if Tesla accepts grimacecoin,” the Twitter account for the fast food corporation replied to him. Grimace is a fluffy, purple character who tags along with Ronald McDonald in McDonaldland commercials.
The subject came up again this week when Twitter user Dogedesigner asked Musk on Thursday whether his offer is still open. The Tesla boss replied with the 100 emoji, indicating that he still stands by his offer.
Following the interaction between the McDonald’s Twitter account and Musk in January last year, grimacecoin (GRIMACE), a crypto token that has nothing to do with either McDonald’s or Musk, was launched. At the time of writing, each grimacecoin is trading at $0.5879.
Musk, who is known in the meme crypto community as the Dogefather, has long been a supporter of dogecoin. His electric car company, Tesla, currently accepts DOGE for some merchandise, and Musk has said that Spacex will follow suit. Moreover, his Boring Company accepts DOGE payments for some rides.
The billionaire previously revealed that he personally owns bitcoin, ether, and dogecoin. He said in June last year that he will keep buying and supporting DOGE. In July, he confirmed that Tesla has not sold any DOGE, and in November, he said: “Dogecoin to the Moon.”
What do you think about Elon Musk offering to eat a McDonald’s Happy Meal on TV if the fast food chain accepts dogecoin? Let us know in the comments section below.
Source: Featured Archives – Bitcoin News