A Fundstrat Survey Suggests That Institutions Favor Bitcoin More Than Retail Investors
When it comes to Bitcoin bullishness, it is often considered that the retail investors lead the path and institutions maintain a cautiousness. However, a new survey conducted by Fundstrat, the Wall Street strategy firm points toward a different conclusion, that once institutional investors set their eyes on bitcoin, they can be more bullish than their retail investors.
Fundstrat took to Twitter with a six-question poll to gauge the sentiment among retail cryptocurrency investors, a same set of questions was given to institutional investors at a private dinner.
Institutions Bullish over Bitcoin
While both institutional and retail investors believed that bitcoin price had bottomed, the former came out marginally confident by a 10 percent margin. Moreover, institutions remained bullish about the token’s 2019 prospect, 57% believe that bitcoin price would end the year above $15,000, while only 40 percent of retail investors stated the same.
BTC vs XRP
Another interesting observation was the apparent divide between institutions and “Crypto Twitter” in regards to Bitcoin and XRP. When asked to predict the best performing token of 2019 and to disclose their least favorite digital asset: 59% the institutions placed their bet on BTC as the best performer. With 18% EOS finished a distant second, followed by ethereum, NEO, tron, and stellar.
On the Twitter poll, Ripple(XRP) emerged victorious with 46% of the votes. BTC was placed second with 31%, followed by ethereum and EOS (since Twitter only allow four option no other altcoins were mentioned.) In a contradiction, XRP almost won the least favorite cryptocurrency by Crypto Twitters, it finished second with 31%, while Tron took the cake by a close margin with 32% vote. The other two remaining options Ethereum classic and bitcoin in the limited choice poll receive 20% and 17% respectively.
The stats clearly demonstrate that amidst the option provided, Twitter likes XRP the most (46%) and also dislikes XRP the most (31%). In the institutional front, XRP was the favorite token by a margin with 28%, followed by bitcoin at 17%. Other tokens that received least likable vote include tron, ethereum classic, bitcoin cash, cardano, EOS, litecoin, and tether.
The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.” Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.