new data from New York-based law firm Foley and Lardner, a group of insiders say that among cryptocurrencies like bitcoin, Dash, and Monero, they believe ethereum to be the best bet.
The survey completed by more than 60 professionals, the majority of whom are investors or business executives, contained questions related to regulations, investments, initial coin offerings (ICOs), the likelihood a crash, and market capitalization, providing important statistics that enthusiasts should pay attention to in the coming year.
The most popular pick? Ethereum, the three-year-old blockchain technology that’s been largely used as the foundation for decentralized applications.
It should be noted, however, that the margin of people who believe that ethereum is a more worthwhile investment over bitcoin is slim: While 38% of respondents said they believed ethereum was the better bet, 35% picked bitcoin as a preferable investment opportunity.
A mere 5% of respondents said they thought Ripple was the best investment, while only 2% said they would bet on Dash.
On the other hand, with regards to the top coins, 43% of participants believe that Bitcoin has the greatest likelihood for point of sale (POS) purchases.
As for ICOs, 84% of those surveyed by Foley & Lardner believe that the fundraising method should be regulated. At the same time, 86% said that the crypto industry needs to develop global regulatory standards.
Allison Charney, partner and member of Foley & Lardner’s Blockchain Task Force, said of the survey:
“The U.S. has long-standing anti-fraud laws that apply to cryptocurrencies, but there are potential gaps and shortcomings in this developing area. While worries about fraud aren’t necessarily surprising, they do provide another sign that industry insiders view regulation on the whole as a good thing.”
On the topic if Bitcoin’s market capitalization is going to be surpassed at some point by another digital currency like Ethereum, a combined 45% said that they believe it is “possible” but it’s too early to tell when, 5% said that it will happen within one year, 14% said that it will happen within 1 to 2 years, 18% said that it will happen within 2 to 5 years, 5% that it will happen in more than 5 years, and 11% said that it will never happen.
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