TL;DR Breakdown:
- Bitcoin investors are bullish that the cryptocurrency is better than stocks, gold, and real estate in the long term.
- However, a lesser number of respondents say Bitcoin will reach $50,000 by 2030.
The institutional digital currency mining platform, Genesis Mining, published the latest finding of its “Bitcoin Investor Predictions 2020” study. In summary, the survey report indicated that many investors in the cryptocurrency are bullish or optimistic on the long term value of the leading digital currency.
For a 10-year period, however, most of the respondents don’t think the cryptocurrency will touch a milestone point of $50,000 per coin.
Bitcoin investors are long-term bullish on crypto
According to the mining company, the purpose of the survey was to better understand how retail investors feel about the cryptocurrency, including their predictions for Bitcoin in the future. Out of the 1,000 Bitcoin investors surveyed, only 17 percent (or 170 respondents) agreed that the cryptocurrency would break through $50,000 in the next ten years. About 83 percent don’t believe in such a price by 2030, or they don’t know.
Meanwhile, more than half of the Bitcoin investors (65 percent) maintained a bullish stance for that price of the cryptocurrency in the long term. To break this down, about 66 percent prefer Bitcoin as a better long-term investment than the United States dollar (USD). Likewise, 52 percent think that the digital currency will outperform an investment in real estate in the long term. In addition, more than half of the investors believe that crypto is a better long term investment compared to stocks.
Bitcoin vs Gold
Genesis Mining also brought up the “Bitcoin vs Gold” question, wherein about 57 percent of the respondents think the crypto is better than the yellow metal when it calls for long term investment. “We’ve been long term Bitcoin bulls since we started mining back in 2013. These findings support our belief that there are many others out there who are bullish about Bitcoin as well,” CEO of Genesis Mining, Marco Streng, commented.
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