Over the past few weeks, a string of surveys has provided an insight into the public’s perception of bitcoin. Japanese; Americans; millennials – all have been grilled regarding the world’s leading digital currency. One group that have yet to speak their piece en masse is institutional traders – until now. A newly released survey sheds light on what investors think of bitcoin and it makes for interesting reading.
Also read: Troy University’s Malavika Nair Says Bitcoin Is Something Different Than a Classic Bubble
Traders are Fascinated by the Bitcoin Rollercoaster
Despite numerous soundbites from Wall Street CEOs, their underlings have remained conspicuously absent from the bitcoin debate. We know what Jamie Dimon and Lloyd 
When asked whether they had ever bought bitcoin or other cryptocurrencies, 31% said yes, with around half having done so only within the last six months. Another 36% professed to be considering buying bitcoin, 31% ruled it out altogether and, not surprisingly, just 1.5% of respondents confessed to being unfamiliar with bitcoin.
Bitcoin Good, ICOs Bad?
The same group of traders was also asked about ICOs, which received markedly less enthusiasm than bitcoin. The number of traders who had invested in them was less than 8%, and 48% stated that they hadn’t even looked at ICOs. 29% of those surveyed did admit to considering the merits of ICO investment, and another 15% expressed a desire for additional regulation before they would consider venturing into the space.
Last week, Coinbase announced that they were launching cryptocurrency asset management for institutional investors. The Triad Securities survey was conducted just before this story broke, so it is hard to say whether the news would have caused respondents to answer otherwise to the next question – What is your level of confidence in current bitcoin custodial offerings? As it was, just 9% claimed to have a high level of confidence, versus 26% having low confidence in the ability of Coinbase, Gemini, and others to safeguard digital assets.
Bitcoin Keeps Bubbling Nicely
The survey concludes by revealing a few tidbits of collective wisdom from the institutional 
For investors accustomed to enjoying single digit growth, bitcoin, with its explosive growth, is an asset whose rise can only be watched with a mixture of envy and apprehension. No one knows where bitcoin will be six months from now, but one thing’s for sure: Wall Street’s watching closely.
Do you welcome institutional money flooding into bitcoin? Let us know in the comments section below.
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via Kai Sedgwick
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