Investors are ‘crypto-confident’, according to deVere poll
We recently carried out a cryptocurrency-related survey which revealed that six out of 10 of those polled, who currently have no exposure to digital currencies, would consider including Bitcoin and the like in their investment portfolios.
In addition, seven out of 10 who at present do hold cryptocurrencies in their portfolio are looking to increase their exposure within the next year.
Indeed, when asked the question: “Would you consider, or are you considering, including at least one cryptocurrency into your investment portfolio?”, 62 per cent of those who do not have any cryptocurrency said ‘yes’, 26 per cent ‘no’, and 12 per cent ‘do not know’.
Furthermore, 71 per cent of investors who do currently have cryptocurrencies as part of their portfolio said that they are looking to increase this exposure over the next year, 25 per cent said that they would not, and 4 per cent cited that they did not know.
Over 800 deVere clients based in the U.S, the UK, Australia, the UAE, Qatar, Switzerland, Hong Kong, Spain, France, Germany and South Africa took part in this survey.
What particularly stands out with this poll is that over 60 per cent of individuals, who at the moment have no cryptocurrency exposure at all, are looking into including them in their investment portfolios.
This shows that despite the traditionalist views of many financial experts, the majority of people are now open to crypto, and understand the opportunities that Bitcoin, Ethereum and Ripple, to name but a few, could bring.
Indeed, the general awareness of digital currencies is increasing, people have a much greater understanding of how they work, and the fact it’s now inevitable that cryptocurrency regulation will be implemented, I believe are the key reasons why more investors are looking to crypto for their portfolios.
deVere’s poll also shows that the majority of investors who already hold cryptocurrencies are of the opinion that the potential opportunities overshadow the possible risks. It highlights that these investors are confident of good returns this year; see digital currencies as a long-term investment; and expect the market to ultimately stabilise.
That said, of course cryptocurrencies are still very much a ‘gamble’, and as I’ve commented previously, are an ‘unchartered waters’ asset so investors need to remain cautious. However, the world today needs cryptocurrencies. I believe one or two existing digital currencies will succeed, and time will tell whether it’s Bitcoin, Ethereum, Ripple, Litecoin, Dash, or any of the others.