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Institutional bitcoin holders will increase investments in cryptocurrencies

A survey by crypto fund Nickel Digital found that 40% of institutional investors and asset managers who own cryptocurrencies bought bitcoin to protect against inflation.

According to the survey, more than 85% of digital asset owners plan to increase their cryptocurrency investments over the next two years. 56% expect bitcoin to grow slightly, while 21% expect the asset to rise further in 2021.

The survey included 50 institutional investors and 50 asset managers totaling $110 billion from Germany, Switzerland, the United Kingdom, and the United States in January 2021.

Recall that according to a recent survey of U.S. residents, retail investors have more faith in Cardano than bitcoin. The altcoin was supported by 31.8% of respondents versus 22.2% for digital gold.

Earlier, a Goldman Sachs survey showed that 40% of the bank’s clients own cryptocurrency. Of those, more than 60% expect assets to grow over the next 12-24 months.