Report: U.S. Consumer Interest in Cryptocurrencies Is Heating Up, Democratization of Cryptocurrencies Will Further Advance in the Next 2-3 Years

Interest in cryptocurrencies is heating up among U.S. consumers, with fewer than 1 percent seeing it as a “flash in the pan,” a sharp drop from previous years, Deutsche Bank said in a report Wednesday. Slightly more than half of those surveyed see cryptocurrencies as an important asset class and payment method, and 65 percent said they think they could replace cash. The bank surveyed more than 3,600 consumers in the U.S., U.K. and Europe in March and July. We expect the democratization of cryptocurrencies to advance further over the next 2-3 years, driven by exchange-traded funds (ETFs), Federal Reserve policy and regulation,” wrote analysts Marion Laboure and Sai Ravindran.