Investors Love Bitcoin and Cryptocurrency, Financial Advisors Less

Which investor are you? – It’s not a first, it’s even now a fact: investors love Bitcoin and cryptocurrencies. A survey in Europe still recently gave the European Central Bank cold sweats showing that 10% of the European population owns cryptocurrencies. This time if it is Accenture that is interested in digital assets and the interest of investors in them. This technology services and strategic investment advice company is therefore conducting a survey in Asia. The key information that emerges is that half of investors would have cryptocurrencies. Let’s decipher.

Cryptocurrency: investors in a few figures

The report “The Future of Asia Wealth Management” is built on two surveys:

  • one conducted with 3,200 investors (persons managing investments between $100,000 and $1 million);
  • the other with more than 500 executives and financial advisors.

The panel is selected from Asian countries: China, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore and Thailand.

On the one hand, regarding the survey carried out on cryptocurrency investors, some data should be highlighted:

  • 52% bought cryptocurrency during the first quarter of 2022;
  • 7% of the portfolios surveyed are entirely in cryptocurrencies;
  • 40% investors use a wealth management company;
  • 33% manage their crypto portfolio in self-management;

On the other hand, concerning investment advice and wealth management companies, we retain these two points:

  • 67% of financial advisory firms are not ready to offer cryptocurrencies;
  • 78% of them declare that a unique and centralized platform would be necessary to allow them to develop in this sector.

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A real enthusiasm of investors for cryptos

A report accompanies the Accenture investigation. He explains that cryptocurrencies are the fifth asset class that appeals the most to investors ahead of raw materials and collectibles.

However, the survey results show that there is a contrast between I’investor enthusiasm for cryptocurrencies and that of financial advisory firms. While investing in cryptocurrencies can represent a potential income of $54 billion, they still seem to be turning their backs on the entire sector. Market volatility, Ponzy pyramids and hacks, making them, perhaps wrongly, chilly.

But precisely, and the paradox is interesting, investors express as they integrate the universe of the blockchain, more and more the need to be advised, but not in any way.

In Asia, more than one in two investors own cryptocurrencies

Cryptocurrencies: a new finance

However, the markets are more volatile. The report therefore suggests that investment advisers should not follow the fear creeping into our minds during the crypto winter.

The report also highlights in view of the results that investment managers overlook several points:

  • Allow their clients to participate in the process of selecting a financial project;
  • take advantage of open banking to enable data sharing;
  • develop offers that evolve with the customer;
  • offer personalized advice and propose the automation of investments.

Nicole Bodack, head of Accenture’s financial markets industry group says:

“Investors are seeking new products and advisory services as they grapple with market volatility, longer life expectancies and the plethora of investment information available online (… ) Wealth managers will need to find a balance in their advisory offerings between effective human relationship management and intelligent, automated systems capable of generating insights for clients and financial advisors. »

Despite the reluctance, the executives interviewed during the survey all express ambitious growth by 2025. Cryptocurrencies, despite what the sluggish markets are saying, therefore continue to interest and attract investors for the long term. Some even see Bitcoin at $100,000.

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