Bitcoin and cryptos are always a good bet for institutions.
All of you into bitcoin, right? – When investigating the widespread interest among institutional investors in Bitcoin and other cryptocurrencies, researchers have found a common pattern. We knew that the “zinzins,” as they are called, have already planned for the next bullish cycle in cryptocurrency prices by scheduling their purchases in advance. The market for crypto-assets is generally seen as promising, according to a poll conducted recently and mostly financed by the enormous financial giant Fidelity Investments.
Institutional investors are also beginning to embrace cryptocurrency.
Fidelity Investments is a financial services titan, managing $4.5 trillion in assets. This company’s 2018 spin-off, Fidelity Digital Assets, is dedicated solely to cryptocurrency investment.
The firm conducted its research between January 2022 and June 2022, and 1,052 institutional investors took part. The following is how they were doled out: 409 in Canada, 358 in the European Union, and 100 in Asia (283). The vast majority of these highly well-off people are already investors in digital assets, it has come to light.
58% of the organisations polled have already invested in cryptocurrency during the first half of 2022. In comparison to the United States, where it is only 42%, it is much greater in Asia (69%) and Europe (67%). When asked about their long-term goals, the vast majority (74%) intend to put money into the bitcoin market.
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Bitcoin is already in the hands of the so-called “zinzins,” but it isn’t enough for them.
About half of the institutional investors polled in 2021 had a positive opinion on crypto-assets. In contrast, 51% of institutional investors reported optimism about the sector in a recent survey.
For as long as there have been zinzins, price volatility of crypto assets has been the “main hurdle” city. One survey found that 50% of people agreed with this latter interpretation. In addition, there are regulatory complexities and challenges, market management perils, and security concerns to consider. At least a third of those who were interviewed brought up each of these.
Increasing interest in digital assets is mirrored in the survey results, which bodes well for the sector in the first half of 2018. Despite recent market volatility, we maintain our bullish stance on the underlying value of digital assets. And the market’s institutionalization in recent years has made it more resilient to recent occurrences.
Tom Jessop, chairman of Fidelity Digital Assets.
Three-quarters of these high-net-worth individuals may be interested in purchasing Bitcoin or another cryptocurrency if recent price increases are any indication. Of course, the strength of the dollar and the state of international politics will also play a role. The zinzins are waiting in the wings, ready to buy the cryptocurrencies if and when these conditions normalize.
There is no shortage of institutional investors eyeing cryptocurrencies, and they all want a piece of the action. In search of juicy harvests yourself? Create an account on the AscendEX trading platform and join the Earn program (commercial link).