Results of a survey conducted by Bank of America shows there is a high interest in crypto despite the recent fall. 91% of 1000 respondents said they intended to purchase crypto in the coming six months. This was the same percentage as those that had bought crypto in the past six months.
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There is a similar picture of steadiness in selling. 30% of respondents said they don't have an intention to sell any of their cryptos in the next six months, which is equal to the percentage saying they hadn't sold any crypto for the same course of time.
Generally, buys were larger than sales, and the most usual transaction size was below $25. The most commonly used platforms were PayPal and Coinbase, 53% and 43% correspondingly.
According to the survey, the interest in using crypto as a payment method is expanding. 39% said they use crypto for online purchases. Most of the participants were short-term investors, with 77% holding crypto for less than a year.
In an interview with CNBC, Jason Kupferberg, Senior Equity Research Analyst at BofA, said the survey was done on June 1 after the collapse of the Terra ecosystem. Kupferberg mentioned that the increasing use of crypto as a payment method is driven by its becoming more available and the growing number of merchants that accept digital assets.