Half of Large British Businesses Hold Stockpiles of Cryptocurrency - News

A new research commissioned by software developer Citrix (NASDAQ: CTXS) has found that 50% of large British businesses have stockpiles of cryptocurrency. The study, which was carried out in partnership with One Poll, surveyed 750 IT decision makers within large UK businesses of 250 employees or more. It found that those businesses hold an average of 24 bitcoins each. Out of those companies, just 7% are investing in bitcoin alone and 93% in a more diverse portfolio of cryptocurrencies. 54% have bought litecoin, 43% ethereum, 33% Ripple’s XRP, and 29% dash.

The research also reveals that 57% of those holding bitcoin sold off part of their stash around the December 2017 highs. The study shows that another 38% of these are considering making a sale these days. Just 5% have no current intention to sell their bitcoins.

As for the main reasons for holding such a portfolio, 40% say they plan to use the cryptocurrencies to pay providers, while 32% are aiming to pay their employees with them. Additional plans include using cryptocurrencies together with smart contracts or other blockchain technologies (27%), as part of fundraising (21%), and to pay for training, R&D or other demonstrative activities (17%).