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Bitcoin (BTC) Poised to Beat S&P 500 Over the Next 12 Months: Chainalysis Survey

November 11, 2019

Financial professionals think Bitcoin is likely to outperform the S&P 500, Bloomberg Barclays Bond Index, and the House Pricing Index in the next 12 months, according to a new survey.

Chainalysis, a blockchain analysis company, just polled 350 finance professionals, asking a variety of questions relating to Bitcoin and cryptocurrency.

Nearly half of the respondents – the largest group – say Bitcoin will have the highest growth rate in the next year when compared to other investment categories like equities, fixed income bonds and housing.

Despite this optimism, the poll also touched on the concerns traditional finance professionals have about digital assets.

Nearly 40% of respondents say the biggest thing holding them back from doing more work with crypto is “an ability to control for illicit activity.” Another 18% cite an inability to comply with governmental regulations, while a quarter of them simply say the market opportunity isn’t big enough.

Respondents cited client demand as the top reason why they would adopt crypto in the future.

More than 37% believe that if there’s a global digital currency in the next 5-10 years, the United States will control it.

Only 21.2% of respondents think China would control a hypothetical global digital currency, while nearly 30% think it will be decentralized.

Says Chainalysis,

“Financial institutions will ultimately invest where they believe they can safely uncover significant value. For that reason, we’re even more optimistic they’ll embrace cryptocurrency following this survey.

As suspected, the key obstacle will be overcoming concerns around compliance, but as blockchain analysis software continues to gain traction, we believe this is more a problem of education than capability. If our vision of an entire economy built on blockchains comes true, the organizations that move quickly to embrace new compliance tools will have a head start on meeting customer demand.”

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