Crypto Markets Crashing, But Survey Reveals Most Millionaires Still Interested
A poll that was recently held by Capgemini showed that the majority of millionaires are extremely interested in cryptocurrencies as an investment for storing the value digitally. While most wealth management firms have been mostly in the background when it comes to digital currency, investments information given to clients, more than 2/3rds of them find that cryptocurrencies could considered extremely valuable.
The new poll was based on more than 2,600 responses. These took place across 19 major wealth markets in N. America, Latin America, Europe as well as Asia-Pacific, saw that millionaire’s interests in cryptocurrency has growing considerably but is still a cautious investment overall, especially with the peaks that have occurred in 2018 so far.
The poll also showed that 29 percent of those who participated have an extremely high degree of interest, while another 26.9 percent said they are somewhat interested in cryptocurrency investing for the potentially high ROI and ability to store value online virtually. There is also some negative correlations apparently between the ages of investors and virtual currencies, with a lot of financial managers in the younger generation not seeing the value in cryptocurrency.
Most of the wealth firms are not on the level with cryptocurrency, instead seeing the investment train as only 35.6 percent of the high-net-worth cryptocurrency investments from wealth managers to be involved. Younger people of wealth are more enthusiastic it would seem, but it may force wealth managers to develop and offer analytics for the topic in the near future.
The buy-side of the business isn’t connecting very well either. Instead clients on Capgemini standard of investing are doing very well. The French group is one of the best consultants in the industry, with 70 percent of it who feel connected to their personal managers. Many firms managing wealth have been progressively taking part in the cryptocurrency game, with financial institutions ratings becoming important aspects.
New grades are not being given to all the virtual currencies of the world, Ethereum which received the highest rating of an A+ included, while other big ones like Bitcoin has only received a C+.