December 9, 2022

Only 8% of Americans Have Positive View of Cryptocurrencies in November, Says CNBC

Cryptocurrencies

Cryptocurrencies

Americans’ views on cryptocurrencies have sharply deteriorated after a series of problems, collapses, and bankruptcies in the crypto scene, a CNBC All-America Economic survey found.

The survey revealed only 8% of the American public has a positive view toward cryptocurrencies in November, decreasing from 19% in March. While 43% of Americans have a negative view of cryptocurrencies from 25% in March and those who are neutral became 18% from 31% in the same period.

CNBC said that the figures indicate that there is a dramatic fall for an investment that was touted as its asset class, saying: “That popularity attracted many ordinary Americans to crypto and the survey shows 24% of the public invested in, traded or used cryptocurrency in the past, up from 16% in March.”

“According to the survey, 42% of crypto investors now have a somewhat or very negative view of the asset, compared to 43% of all adults polled.” The main difference is that 17% of crypto investors are very negative, compared to 47% of non-crypto investors, according to CNBC.

CNBC survey did not determine specific reasons behind the downward trend toward cryptocurrencies between March and November but definitely the recent events, which the crypto scene witnessed played a role, like the collapse of FTX and the bankruptcy of BlockFi.

On the other hand, a Coinbase-sponsored survey released on November 22 and conducted between September 21 and October 27, found that 62% of institutional investors allocated more investments in the crypto industry over the past 12 months.

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