A survey of institutional investors suggests that their cryptocurrency allocations have increased over the last year despite the industry going through a prolonged crypto winter.
A Coinbase-sponsored survey released on Nov. 22 and conducted between Sep. 21 and Oct. 27, found that 62% of institutional investors invested in crypto had increased their allocations over the past 12 months.
In comparison, only 12% had decreased their crypto exposure, indicating most institutional investors may be bullish on digital assets in the long term despite prices falling, according to the survey.
More than half of the investors surveyed said they were currently, or planning, to use a buy-and-hold approach for cryptocurrencies, with the belief that crypto prices will stay flat and range bound over the next 12 months.
Additionally, 58% of respondents said they expected to increase their portfolio’s allocation to crypto over the next three years, with nearly half “strongly agreeing” that crypto valuations will increase over