Mizuho Surveyed Investors on Whether Bitcoin is a Bubble. Here are Results
2022.04.26 15:36
Mizuho Surveyed Investors on Whether Bitcoin (BTC) is a Bubble. Here are Results
In a recent survey, Mizuho found that investors have almost evenly split views on whether Bitcoin is in a bubble.
51% of surveyed investors believe that the world’s largest cryptocurrency is a bubble, while the remaining 49% believe it is not.
However, 35% of those who think that Bitcoin is a bubble said they bought the cryptocurrency anyway and estimate it will reach up to $55,000 by the end of 2022. On the other hand, those who think Bitcoin is not a bubble do not expect a significant upside by year-end. On an average basis, both groups expect the cryptocurrency to rise about 15-25% during that period.
Mizuho surveyed 400 investors and found that 60% of those who own Bitcoin said they view it as an investment, while only 28% said they own it as a currency. Roughly 30% of respondents said they bought Bitcoin because others own it too, and/or are unsure why they bought the cryptocurrency.
“How prevalent is Bitcoin maximalism? It turns out maximalism is limited, as just 21% of respondents reported only caring about Bitcoin vs. the remaining ~80% that are interested in other cryptocurrencies as well,” analyst Dan Dolev wrote in a client note.
The survey results also showed that only 21% of respondents said they are solely interested in Bitcoin, 35% of them are also interested in Ethereum, 8% said they like Solana as well, and 37% said they are interested in other altcoins too.
What’s even more interesting is that just 12% of respondents who believe Bitcoin is a bubble said they are only interested in Bitcoin, compared to the overall average of 21%.
By Senad Karaahmetovic
