SharesPost Crypto 2018 Mid-Year Survey: Consumers still bullish while investors cautiously optimistic in 2018
September 5, 2018 | Blog

SharesPost Crypto 2018 Mid-Year Survey: Consumers still bullish while investors cautiously optimistic in 2018

This blog is an excerpt from a research report titled “Cryptocurrency and Blockchain Survey: Consumers Bullish, Investors Cautiously Optimistic.” To download the report, please log in to your SharesPost account or register here.

Since we conducted our inaugural survey in January 2018, Bitcoin and Ethereum prices have declined about 48 percent. But crypto owners haven’t lost faith. The majority of investors and consumers continue to find cryptocurrencies appealing, according to SharesPost’s Mid-Year Cryptocurrency and Blockchain survey. 59 percent of investors and consumers plan on buying more digital currencies over the next year, a figure marginally lower compared to our first survey, particularly among investors.

SharesPost invited consumers and accredited investors to participate in an online survey. Our poll was designed to understand the change in their views about cryptocurrencies and Blockchain since January 2018. We conducted this second iteration of our survey during July 2018, and received responses from 2,490 consumers and 528 accredited investors.

To learn more about cryptocurrencies and Blockchain technology, download our report – Decrypting Blockchain – The Internet of Value.

Consumers and investors own Bitcoin, investors also like ETH and XRP

Among cryptocurrencies, Bitcoin has seen a surge in optimism over the past six months. 80 percent of investors and 64 percent of consumers believe Bitcoin offers the most potential for future success. However, enthusiasm for Ethereum decreased during the same period as companies increasingly use their own individual blockchains to launch tokens instead of Ethereum.

Exhibit 1: Positive outlook for Bitcoin among investors and consumers
Exhibit 1: Positive outlook for Bitcoin among investors and consumers
Source: SharesPost Research; N = 446 investors and N = 2308 consumers; Survey Question: “Which currencies do you think have the potential to be successful in the long-term?”; Percentages rounded off to the nearest integer; Includes data from both crypto and non-crypto owners

The proportion of investors who own ETH and XRP is significantly higher than that of consumers. As illustrated in the chart below, 74 percent and 43 percent of surveyed investors own ETH and XRP respectively. By comparison, the proportion of consumers who own cryptocurrencies apart from Bitcoin significantly dropped. This observation is consistent with the results from our first survey

Exhibit 2: Significantly high ownership of Bitcoin over other cryptocurrencies
Exhibit 2: Significantly high ownership of Bitcoin over other cryptocurrencies
Source: SharesPost Research; N = 294 for investors and N = 1396 for consumers; Survey Question: “Which of the following cryptocurrencies do you own? (SELECT ALL THAT APPLY)?”; Percentages rounded off to the nearest integer
Other highlights from the survey:

Growing number of companies are implementing Blockchain technology. 32 percent of investors and 49 percent of consumers say employers are planning to roll out Blockchain in the near future. In addition, the percentage of consumers whose say employers are considering a Blockchain roll out grew 12 percent over the past six months to 49 percent from 37 percent, demonstrating a growing need for the technology.

Cryptocurrencies and Blockchain technology may take longer to go mainstream. Both investors and consumers tempered their expectations for widespread adoption of cryptocurrencies. The percentage of investors who think crypto will go mainstream in 2020 dropped to 27 percent from 51 percent; 37 percent from 42 percent among consumers. More people now feel 2025 represents a more realistic timeline for digital currencies.

Volatility and security are key concerns for crypto ownership while lack of education and commercial use pose key challenges to Blockchain adoption. Over 50 percent of survey takers picked volatility and over 37 percent picked safety and security as their top concerns. Both crypto and non-crypto owners have expressed similar sentiments. 55 percent of investors and 57 percent of consumers picked lack of understanding as the top challenge while half of both investors and consumers believe lack of effective use cases as their primary concern.

PLEASE READ THESE IMPORTANT LEGAL NOTICES & DISCLOSURES

CONFLICTS

This report is being published by SharesPost Research LLC, and distributed by SharesPost Financial Corporation, a member of FINRA/SIPC. SharesPost Research LLC, SharesPost Financial Corporation and SP Investments Management, LLC, an investment adviser registered with the Securities and Exchange Commission, are wholly owned subsidiaries of SharesPost, Inc.

Recipients who are not market professionals or clients of SharesPost Financial Corporation should seek the advice of their own personal financial advisors before making any investment decisions based on this report. None of the information contained in this report represents an offer to buy or sell, or a solicitation of an offer to buy or sell, any security, and no buy or sell recommendation should be implied, nor shall there be any sale of these securities in any state or governmental jurisdiction in which said offer, solicitation, or sale would be unlawful under the securities laws of any such jurisdiction.

This report does not constitute an offer to provide investment advice or service. Registered representatives of SharesPost Financial Corporation do not (1) advise any member on the merits or advisability of a particular investment or transaction, or (2) assist in the determination of fair value of any security or investment, or (3) provide legal, tax, or transactional advisory services.

ANALYST CERTIFICATION

The analyst(s) certifies that the views expressed in this report accurately reflect the personal views of such analyst(s) about any and all of the subject securities or issuers, and that no part of such analyst compensation was, is, or will be, directly or indirectly related to the specific views contained in this report.

Analyst compensation is based upon various factors, including the overall performance of SharesPost, Inc. and its subsidiaries, and the performance and productivity of such analyst, including feedback from clients of SharesPost Financial Corporation and other stakeholders in our ecosystem, the quality of such analyst’s research and the analyst’s contribution to the growth and development of our overall research effort. Analyst compensation is derived from all revenue sources of SharesPost, Inc., including brokerage sales.

DISCLAIMER

This report does not contain a complete analysis of every material fact regarding any issuer, industry, or security. The opinions expressed in this report reflect our judgment at this date and are subject to change. The information contained in this report has been obtained from sources we consider to be reliable; however, we cannot guarantee the accuracy of all such information.

Any securities offered are offered by SharesPost Financial Corporation, member FINRA/SIPC. SharesPost Financial Corporation and SP Investments Management are wholly owned subsidiaries of SharesPost, Inc. Certain affiliates of these entities may act as principals in such transactions.

Investing in private company securities is not suitable for all investors. An investment in private company securities is highly speculative and involves a high degree of risk. It should only be considered as a long-term investment. You must be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid and there is no guarantee that a market will develop for such securities. Each investment also carries its own specific risks and you should complete your own independent due diligence regarding the investment, including obtaining additional information about the company, opinions, financial projections and legal or other investment advice.

Accordingly, investing in private company securities is appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment.

SharesPost, the SharesPost logo, My SharesPost, the SharesPost Index, and SharesPost Investment Management are all registered trademarks of SharesPost, Inc. All other trademarks are the property of their respective owners.

Copyright SharesPost, Inc. 2019. All rights reserved.

Alejandro Ortiz

Alejandro Ortiz

Alejandro is a Research Analyst, Private Investment Research for SharesPost Research LLC. Prior to joining SharesPost, he was a Valuation Analyst at Duff & Phelps with a focus on TMT industries.
PLEASE READ THESE IMPORTANT LEGAL NOTICES & DISCLOSURES

CONFLICTS

This report is being published by SharesPost Research LLC, and distributed by SharesPost Financial Corporation, a member of FINRA/SIPC. SharesPost Research LLC, SharesPost Financial Corporation and SP Investments Management, LLC, an investment adviser registered with the Securities and Exchange Commission, are wholly owned subsidiaries of SharesPost, Inc.

Recipients who are not market professionals or clients of SharesPost Financial Corporation should seek the advice of their own personal financial advisors before making any investment decisions based on this report. None of the information contained in this report represents an offer to buy or sell, or a solicitation of an offer to buy or sell, any security, and no buy or sell recommendation should be implied, nor shall there be any sale of these securities in any state or governmental jurisdiction in which said offer, solicitation, or sale would be unlawful under the securities laws of any such jurisdiction.

This report does not constitute an offer to provide investment advice or service. Registered representatives of SharesPost Financial Corporation do not (1) advise any member on the merits or advisability of a particular investment or transaction, or (2) assist in the determination of fair value of any security or investment, or (3) provide legal, tax, or transactional advisory services.

ANALYST CERTIFICATION

The analyst(s) certifies that the views expressed in this report accurately reflect the personal views of such analyst(s) about any and all of the subject securities or issuers, and that no part of such analyst compensation was, is, or will be, directly or indirectly related to the specific views contained in this report.

Analyst compensation is based upon various factors, including the overall performance of SharesPost, Inc. and its subsidiaries, and the performance and productivity of such analyst, including feedback from clients of SharesPost Financial Corporation and other stakeholders in our ecosystem, the quality of such analyst’s research and the analyst’s contribution to the growth and development of our overall research effort. Analyst compensation is derived from all revenue sources of SharesPost, Inc., including brokerage sales.

DISCLAIMER

This report does not contain a complete analysis of every material fact regarding any issuer, industry, or security. The opinions expressed in this report reflect our judgment at this date and are subject to change. The information contained in this report has been obtained from sources we consider to be reliable; however, we cannot guarantee the accuracy of all such information.

Any securities offered are offered by SharesPost Financial Corporation, member FINRA/SIPC. SharesPost Financial Corporation and SP Investments Management are wholly owned subsidiaries of SharesPost, Inc. Certain affiliates of these entities may act as principals in such transactions.

Investing in private company securities is not suitable for all investors. An investment in private company securities is highly speculative and involves a high degree of risk. It should only be considered as a long-term investment. You must be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid and there is no guarantee that a market will develop for such securities. Each investment also carries its own specific risks and you should complete your own independent due diligence regarding the investment, including obtaining additional information about the company, opinions, financial projections and legal or other investment advice.

Accordingly, investing in private company securities is appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment.

SharesPost, the SharesPost logo, My SharesPost, the SharesPost Index, and SharesPost Investment Management are all registered trademarks of SharesPost, Inc. All other trademarks are the property of their respective owners.

Copyright SharesPost, Inc. 2019. All rights reserved.