Crypto Survey 2025

The evolution of retail investor sentiment in the digital asset market

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Retail investors show increased optimism in crypto assets

The 2025 edition of the Strategy& Crypto Survey marks the third installment of our ongoing report, which tracks the evolving sentiment of retail investors in the digital asset market. Following the bullish trends observed in 2022 and 2023, this year's survey comes at a crucial moment. For the first time, Bitcoin exceeded the $100,000 mark in early 2025, propelled by unprecedented market dynamics, including the U.S. government's plans to establish a crypto reserve. Despite this milestone, prices have remained volatile throughout the first quarter of 2025.

In light of this significant shift, we aimed to understand how retail crypto investors are navigating the changing landscape. Our survey, conducted from January 30th to February 11th, 2025, collected insights from 2,500 participants across the United States, Germany, Turkey, Saudi Arabia, and the United Arab Emirates.

Our findings confirm that retail investors continue to be more bullish than ever, adapting strategies and patterns that resemble those in traditional asset classes. In this report, we provide an in-depth look at investor sentiment, portfolio strategies, and emerging trends in the crypto currency and crypto asset markets.

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Among other factors, this is driven by almost 1/3 of investors having set up savings plans for digital assets

Question: What investment strategies are you pursuing with your crypto investments?

Buy and hold
50% Buy and hold
of investors
Day trading
37% Day trading
of investors
Savings plan
31% Savings plan
of investors
Technical analysis
31% Technical analysis
of investors
Staking
27% Staking
of investors
No strategy
12% No strategy
of investors
N = 2,500; multiple selections possible

Almost 50% expect a strategic reserve bitcoin of major countries until 2030

Question: Where do you see Digital Assets in 2030?

Common medium of exchange like fiat currencies
%
Remain pure medium of speculation
%
Traditional asset classes are largely tokenized
%
Part of almost every portfolio
%
Major countries with strategic crypto-reserve
%
Prohibited with the exception of CBDCs
%
N = 2,500

Digital assets: No way back?

With retail investors more bullish than ever, financial service providers must reassess both opportunities and challenges in the crypto currency and crypto assets markets. Since our survey's inception, the crypto market has seen significant fluctuations. However, we have consistently observed a strong and sustained commitment from existing investors across various countries, genders, and age groups.

As regulatory frameworks develop in key international jurisdictions and major economies explore the establishment of official crypto reserves, it is clear that digital assets are here to stay. Our key findings highlight:

  • 1
    Crypto currency investors remain steadfast in their belief in the market
  • 2
    These investors are often attractive clients for banks
  • 3
    The trading behavior of crypto investors is increasingly similar to that of stock investors
  • 4
    Crypto investors expect digital assets to maintain long-term relevance for multiple reasons
  • 5
    The availability of crypto offerings is a crucial factor in bank selection for investors

Jens-Peter Nees has co-authored this report.

Contact us

Dr. Philipp Wackerbeck

Dr. Philipp Wackerbeck

Partner, Strategy& Germany

Felix Becht

Felix Becht

Partner, Strategy& Germany

Dr. Antoine Khadige

Dr. Antoine Khadige

Partner, Strategy& Middle East

Hendrik Bremer

Hendrik Bremer

Senior Executive Advisor, Strategy& Austria

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