Fundstrat Survey: Institutions Prefer Bitcoin, While Twitter Favors Ripple
According to a study on digital currencies conducted by Fundstrat, Bitcoin is favored by institutional investors while Ripple’s XRP is the favorite coin for Twitter users. The research was conducted over two phases. The first phase, a questionnaire with 10 questions, was presented to 25 different institutions. The second phase was a Twitter survey that amassed almost 10,000 responses from users on the social media platform.
Compared to Twitter users, institutions expressed more confidence in a bullish run for Bitcoin in 2019. In fact, 54% of the responses from the institutions were in support of a Bitcoin price increase, while only 445 of Twitter users adopted a similar stance.
Concerning the best performing cryptocurrency token of 2019, 59% of institutional voted for Bitcoin, followed at a distance by EOS and Ethereum. On Twitter, the users favored XRP, with 46% voting for the cryptocurrency. It was followed by Bitcoin, Ethereum and EOS respectively.
Additionally, the survey revealed that the XRP token is the most polarizing digital currency across all sectors. As per the institutions, the coins with the least sensible investment theses are XRP and BTC. On the other hand, Twitter users believe that TRX and XRP make the least sense.
In terms of similarity, both Twitter users and institutions believe that Bitcoin has already reached its lowest point and expect its price to start soaring soon. Also, the two sides believe that central banks, political stability and the US dollar are the most significant influencing factors on the performance of crypto markets.