A survey by Deutsche Bank (DB) has found that a majority of Americans believe that cryptocurrencies are here for good and unlikely to fade away anytime soon.
The survey also found the Americans are becoming accustomed to digital coins and tokens, with less than 1% calling crypto a “fad” that is likely to decline in popularity.
A little more than half (50%) of people surveyed said they view crypto as an important asset class and method of payment, and 65% said they could see it replacing cash one day.
Deutsche Bank surveyed more than 3,600 consumers in March and July of this year.
However, the survey’s findings weren’t all positive.
Consumers who were polled had less knowledge about stablecoins that are used in decentralized finance (DeFi), with a majority saying they don’t expect that asset class to thrive.
Additionally, a third of survey respondents said they thought Bitcoin’s (BTC) price would be below $60,000 U.S. by year’s end.
Plus, more than half of people surveyed said they’re worried about a cryptocurrency collapse within the next two years.
Bitcoin, the largest cryptocurrency by market capitalization, is currently trading at $57,950 U.S., up 31% on the year.
