A Survey Shows That The Pandemic Has Made Cryptocurrencies More Attractive To Investors, But The Biggest Barrier To Entry Is A Lack Of Knowledge

A Survey Shows That The Pandemic Has Made Cryptocurrencies More Attractive To Investors, But The Biggest Barrier To Entry Is A Lack Of Knowledge



2 years ago

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The pandemic has made cryptocurrencies more attractive, according to a recent survey from the Economist Intelligence Unit .

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As more people stayed indoors to curb the spread of the virus, they found themselves with more time on their hands, while flush with multiple rounds of stimulus money from the government.Data from Economist Intelligence Unit showed 46% of people surveyed found the case for owing cryptocurrencies more compelling due to covid-19.

"It's a function of continued demand across both retail and institutions," Mathew McDermott, managing director and global head of digital assets at Goldman Sachs, was quoted saying in the study.

He added: "Given the huge amount of stimulus we're seeing across countries because of covid-19 and low-interest rates, it's the right place at the right time for companies to offer the ability for people to buy, hold, and use digital currencies and have digital wallets."

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