Cryptocurrency

Bitwise: “50% of financial advisors are ready to invest in cryptocurrencies”

According to Bitwise, the number of financial advisors investing in cryptocurrencies has increased by 50% in 2020 over the previous year.

Asset manager Bitwise conducted a survey of 1,000 financial advisors based in the United States. It turned out that over the past year, professionals and firms working in the finance and consulting industry have become much more interested in digital assets. 17% of surveyed financial consultants began to consider the possibility of investing in cryptocurrencies, and 2% have already made a final decision that they will invest in crypto assets.

At the same time, 54% of respondents believe that digital assets can bring profit, independent of the production process. 25% of respondents answered that the main goal of investing in cryptocurrencies is to protect against inflation, while in 2019 only 9% of specialists in the financial industry were afraid of inflationary risks. 81% of survey participants also reported that last year the number of customers interested in cryptocurrencies and ready to study them in more detail increased significantly last year – in 2019 this figure was 76%.

In addition, financial advisors have become more optimistic about Bitcoin. 15% of experts assumed that within five years the price of the first cryptocurrency will reach $ 100,000. However, the year before last, the potential of bitcoin was assessed by only 4% of financial experts. At the same time, the number of specialists expecting that the bitcoin rate will collapse to zero has been halved – from 8% to 4%.

Recently, analysts at JPMorgan bank suggested that Bitcoin could reach $ 146,000 in the long term, and investors will prefer this asset to investments in precious metals. Citibank Managing Director Thomas Fitzpatrick has completely “doubled the rate” – in his opinion, by the end of the year, Bitcoin may grow to $ 318,000.

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