The pandemic has created huge losses among many businesses and small firms. Besides this, market performance was also not that good during the time of the pandemic. We all know that the market went too high neither too low. It was neutral for a year. However, there are some companies that performed well in the pandemic. If there is anything that performed well during the pandemic then it is crypto.
According to the survey, it was found that the pandemic has attracted a lot of investors. At the time of the pandemic, most of the people stayed inside their homes to minimize further cases. During that time many people found themselves with this new investment opportunity Crypto. Similarly, people were confused about the stock market and its performance which has led crypto to an all-time high.
The study also showed that most people were using some kinds of digital service in their country. When they were asked about Crypto they told that they didn’t have too much knowledge about it. Besides this, getting easy access to the crypto product was also a reason which is why most people didn’t hold crypto. Later the fed began giving stimulus checks to their citizen. It was also the right time for the banks to offer crypto services to their users.
In another study among institutional investor, it was found that most of the investor sees BitCoin and other cryptos for capital gain. Whereas, some investors said that they see Crypto as an opportunity for hedging against inflation. Besides this, some also said that they see Crypto hedge against Low-Interest rate. These were some of the reports that came out through a survey among Institutional investors.
Some of the major Institution includes Tesla, Goldman Sachs, Morgan Stanley BNY Mellon, and PayPal. These were some of the big institution giants which offer crypto to their customer during the time of the pandemic. This led huge sum of money being invested in the crypto market taking the market all-time high.
After this many investors started hedging crypto against inflation and this is what most people want to take benefit from BitCoin volatility. Earlier when the market crashed many people were hedging against BitCoin and made chunks of profits.
This makes Pandemic a great year for Crypto Market. Now, many investors and any institution are giving easy access for people to invest in the Crypto market.