Consumers in the U.S. are still bullish on crypto and digital assets even as the decentralized market faces immense selling pressure in the face of persistently high inflation and the Federal Reserve's tightening cycle, according to a survey of 1,013 users of crypto/digital asset exchanges conducted by Bank of America in early June when bitcoin (BTC-USD) was changing hands at ~$30K.
Despite a sharp correction in crypto valuations, 91% of survey respondents are expecting to buy crypto/digital assets in the next six months, the same percentage who said they purchased in the previous six months, BofA analyst Jason Kupferberg wrote in a note Monday.
By comparison, 30% are saying they do not plan to sell any of their crypto holdings over the next six months, unchanged from the 30% who said they didn't sell in the last six months, as per the note.
For crypto exchanges, "respondents who favored Coinbase (NASDAQ:COIN) and Crypto.com (CRO-USD) averaged larger purchase sizes and higher...
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