High Net Worth Individuals’ Cryptocurrency Wealth Management On The Rise


Everybody who is following Bitcoin knows what a marvelous year for cryptos 2017 was. In fact, a huge number of people started to trade Bitcoin, Ethereum and many other altcoins and the market exploded with Initial Coin Offerings and new crypto exchanges appearing every week. In January 2018, the cryptocurrency market peaked.

Is there a limit for the influence of the cryptocurrencies? It looks like there is and this limit is the market of wealth management. Up until now, this market has not been accepting the cryptos very well.

How Cryptocurrencies Are Faring In The Wealth Management Industry

A recent survey (Capgemini Global HNW Insights Survey 2018 made by the Capgemini Financial Services Analysis) with High Net Worth Individuals (HNWIs) stated that only 29% of them have a high interest in cryptos while 26.7% of them were somewhat interested in this new market.

The survey also states that 39.3% of them would invest if the returns were high and that only 19.3% saw potential as an alternative store of value. While 26.9% of them were no the fence about whether cryptos were a good choice, most HNWIs, specially the younger ones, said that they would only invest if they get information from primary wealth management firms.

It seems that the main barrier that the blockchain and cryptocurrency market will have to cross is the one from the wealth management firms. As soon as they start to use cryptos, there is a good chance that they will get more popular.

The survey also showed that Latin America was were people had the highest interest levels in cryptos (59.7%), followed by Asia and the Pacific (except Japan), with 51.6%. Most undecided people are in Japan (34.1%), followed by Latin America (30%) and Asia & Pacific (28.7%). The lowest interest in cryptos is in the United States (54.2%), followed by Japan (50.6%) and Europe (46.5%).

What does this mean? That the most well developed countries are less likely to have HNWIs interested in investing in cryptos. Will that change in the future? If the companies that manage wealth start to enter this market, then probably yes.

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