70% of financial executives believe that cryptocurrencies will not disappear. There remains a good optimism around the cryptocurrency ecosystem.
A report published a few days ago by the consulting firm Greenwich Associates states that over the 70% of financial executives surveyed, believes that la cryptocurrency will play its role in the future of the industry.
"They are indicating that they do not believe that cryptocurrencies will disappear and that, indeed, they are here to stay," said Richard Johnson, vice president of the market technology group of Greenwich Associates and author of the dossier.
The new survey specifically found that most of the 141 institutional investment executives surveyed believe that a regulatory framework will be able to develop around cryptocurrencies, leading to growth and innovation, or that some cryptocurrencies will survive and thrive, although many more will fail. 10% of respondents believe that cryptocurrencies will remain a marginal asset class without generalized adoption, and another 10% said that a regulatory crackdown will eliminate this market altogether. Who will be right?
Waiting to find out, we can only highlight how what is entering its final part has been an unquestionably difficult year for digital goods: the market has fallen by more than 70% since the January peak and regulatory uncertainty continues to cast a shadow over new and consolidated projects. Last month, the SEC rejected nine documents for bitcoin ETFs and, despite some high profile projects and partnerships, such as the Intercontinental Exchange Bakkt, the Northern Trust's recent blockchain expansion and Citigroup's exploration of cryptocurrency solutions, institutional participation in the cryptocurrency remains relatively low.