Category Archives: Blockchain Capital

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More Than 1 in 10 Americans Own Bitcoin

More Than 1 in 10 Americans Own Bitcoin

Venture capital company Blockchain Capital has just released the results of its latest study, which now shows that more than 1 in 10 Americans currently own Bitcoin. It calls Bitcoin the “Demographic mega-trend”.

Specifically, 11% of the population surveyed owned Bitcoin, including 20% of those aged 18-34 and 15% of those aged between 35-44. The survey’s population was 2,029 American adults conducted by Harris Poll, and was compared to a previous one conducted in October 2017. The difference between them lies in that the first was conducted in the midst of a massive bull run, while the current one is in a decidedly uncertain market down 75% from all time highs.

However, the surprising revelation of the survey was that:

“We suspect that the difference in market environment between the two surveys would have a negative impact on Bitcoin sentiment in the most recent survey. Despite the bear market, the data shows that Bitcoin awareness, familiarity, perception, conviction, propensity to purchase and ownership all increased/improved significantly — dramatically in many cases.”

The survey also highlighted a “demographic mega-trend” led by younger age groups, and the only area where older respondents matched younger ones was in Awareness.

Other takeaways from the survey:

  • 77% of people had heard of Bitcoin in October 2017. This has risen to 89%.
  • 30% of people were “familiar” with Bitcoin in October 2017. This has risen to 43%.
  • 34% agreed that “Bitcoin is a positive innovation in financial technology” in October 2017. This has risen to 43%.
  • 28% agreed that “most people will be using Bitcoin in the next 10 years” in October 2017. This has risen to 33%.

 

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Expert: Not Unreasonable for Crypto in Business

Expert: Not Unreasonable for Crypto in Business

Blockchain Capital co-founder and director Gavin Brown has told CNBC that it really is not “unreasonable” for multinational businesses to consider their own cryptocurrencies for transactions, at least in the medium term.

Brown said that in the current context when hugely successful multinationals such as McDonald’s actually have a better credit rating than some entire countries, the concept of issuing their own crypto and requiring customers to make purchases with them is “not that outlandish”.

He said this during the Credit Suisse Global Supertrends Conference held in Singapore, insisting that a company-owned crypto could even be set up within three hours to conduct transactions with clients:

“What we’re seeing really is the democratization of money so you know, if you and I wanted to, we could create a CNBC coin.”

The investment expert acknowledged that the success of such a coin would of course depend on the level of trust customers have with the brand: “They will trust it if they trust your brand and if they trust your product.”
A Financial Economics lecturer at the Manchester Metropolitan University, Brown demonstrated his point with the example of prepaid cards issued by Starbucks, whom he says has “over a billion dollars worth of assets worth on their balance sheet of people who prepaid coffee on their charge cards in advance”.
He also commented positively on the efforts by Facebook and JP Morgan to create their own cryptocurrencies, calling the former “the next big one that’s coming”.

 

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VC Funding for Crypto and Blockchain Records 280% Annual Growth

Venture capital (VC) is fast becoming the new way to invest in blockchain companies outstripping ICOs, according to a new study.

VC investments generally come from hedge funds, private equity firms, or persons of extreme wealth, with the resources to invest funds into start-ups with the hopes of quality returns on the original investment.

The new study conducted by Diar, the weekly institutional publication on digital currency, assets, payments and regulation, suggests that the impetus has clearly shifted with VC companies now pouring their money into projects at a rising rate. VC research platform Pitchbook confirms that within the first nine months of 2018, USD 3.9 billion has been raised for VC blockchain enterprises, a 280% rise on the previous year.

The growing interest by venture capital companies in blockchain projects, juxtaposed against a diminishing number of ICOs, thought to be a result of government intervention and stricter rules being enforced on crypto startups who get their funding from ICOs.

The data also shows that the size of VC investments has gone up with the frequency, with median size of deals increasing over USD 1 million in this year alone, showing that as confidence in the industry grows, so does the preparedness to take a higher element of risk. The most active VC investor with 110 deals related to crypto and blockchain is Digital Currency Group (DCG), followed by Blockchain Capital and Pantera Capital with 100 deals.

On the heels of this latest news, Bitcoin News reported yesterday that South Korea’s largest VC company announced investments in TEMCO, a blockchain solution company for supply chain management built on the EOS network.

Korea Investment Partners (KIP) of Seoul has investments in over 50 companies, 20 private equity funds and a significant roster of partners all over the world. Its investment into TEMCO is of undisclosed value although according to a press release, it claims to be the first ICO funded by “major venture capital”.

In terms of where the new wave of venture capital is going to, reports suggest that the US, UK, and Switzerland top the list.

 

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27% Of Millennials Would Choose Bitcoin Over Traditional Stocks

A recent survey conducted by Blockchain Capital points towards a trend in millennials’ growing preference towards cryptocurrency investments over traditional investment forms.

Specifically, the results show that 27% of millennials would prefer USD 1,000 in Bitcoin over USD 1,000 in stocks. It was not just stocks that millennials were moving away from, however; 22% would prefer the same sum of Bitcoin over real estate, and 30% would take Bitcoin over government bonds.

Perhaps an even more striking result from the survey was that 27% of millennials viewed Bitcoin as more trustworthy than big banks. What exactly the survey meant by “trustworthy” is not elaborated on, but it is suggested that they find the Bitcoin blockchain a more secure option.

As well as this, millennials have come of age in the wake of the 2008 financial crisis, largely blamed on the irresponsible trading practices of large banks and financial institutions. It is conceivable that the generation in question have become disenfranchised with these entities and are more inclined to find alternative practices.

Despite the dismissive approach to Bitcoin from mainstream politics and financial organizations, 52% of millennials do note share in their skepticism, with 52% citing the project as a positive financial innovation.

Finally, 42% of the age group believe most people will be using Bitcoin in the next ten years, so it is not surprising the 16% describe themselves as ”very likely” to buy Bitcoin in the next five years. Millenials have indicated that they view cryptocurrencies as a genuine investment opportunity as well as a trustworthy one.

Millennials across the globe

This survey took place in fall of 2017 and had over 2,000 American adults taking part. Similar studies conducted internationally have found trends much like that in the US.

A survey of young, working men in Japan found that 14% had cryptocurrency holdings, with 92% of those noting that they entered the market for investment purposes. In regards to their future plans with their holdings, 47.1% reported that they would like to actively invest in the market, with only 34% saying they did not intend to continue investing.

In South Korea, polls indicate that citizens in their 20s and 30s are familiar with cryptocurrencies and are willing to invest in them. Nearly a quarter of the millennials surveyed answered that they were willing to purchase some form of cryptocurrency.

Bitcoin’s popularity is on the rise and millennials appear to be a generation looking for alternatives to the financial institutions they no longer believe in. If younger generations continue to adopt cryptocurrency as a primary form of investment, this will likely increase the aggregate value of virtual currencies such as Bitcoin.

 

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