Crypto Industry More Attractive to Investors Due to Regulatory Action
- A recent MLIV Pulse survey shows an increased willingness from U.S. investors to invest in cryptocurrencies.
- The majority of respondents believe that the price of (BTC) will range between $17,600 and $25,000 at the end of the year.
- A correlation between BTC and S&P 500 risk aversion remains.
As the U.S. Securities and Exchange Commission (SEC), along with other regulatory bodies around the world work to increase their oversight and control over cryptocurrency trading firms, investors are becoming more confident in investing in the crypto space, according to a recent MLIV Pulse survey, cited by Bloomberg.
Around 60% of those surveyed indicated that the legal action taken against crypto companies that have been in trouble in recent months represents a positive sign for the asset class, which has lost two-thirds of its market value this year alone.
The respondents suggested that the investigative action that followed the bankruptcies of Three Arrows Capital and Celsius Network, along with the SEC’s pursuit of Yuga Labs, the creator of the popular Bored Ape Yacht Club NFT collection, are proof of that.
“I’m in the ‘yes’ camp,” said TIAA Bank’s Global Markets President Chris Gaffney, “as a professional investor, you need a regulated investment opportunity and it opens doors for more professional investors to get into crypto, if it is more regulated.”
For Gaffney, the more investors can…
