More Rich People Are Showing Interest In Cryptocurrencies

According to a France based consulting company Capgemini, it was reported that over 60% of HNWIs (High Net Worth Individuals) were showing a keen interest in investing in digital tokens and that is for the first quarter of the year 2018. This survey is based on the region or area. According to this France based business, Latin America was the area with the most interest, followed by the Asia Pacific. The survey further revealed that North America and Japan showed the most interest when it comes to not holding cryptocurrencies. This survey involved over 2,600 HNWIs scattered across 19 wealth markets in Latin America, North America, Asia Pacific and Europe. It was revealed that over 80% of those included in the survey (respondents) had about $1 million to $5 million in their individual accounts, 18% had about $5 million to $20 million while the remaining 2% controlled over $20 million.

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It was reported that the returns or profits gained from crypto investments are what is driving these millionaires to cryptos. About 71,1% of the total HNWIs that were respondents in this survey are 40 years of age and below and they claim that they have received ample information about cryptocurrencies from their wealth management firms. According to the report that was released by Capgemini, it clearly stated that although regulations were one way cryptocurrencies will gain mass adoption, these young HNWIs would also force their various wealth management firms to adopt their view about these cryptocurrencies. The report further revealed that the main reason that attracted over 56.6% of these HNWIs was the price volatility feature of these cryptocurrencies.

The report further states that the recent regulations that have been imposed on these cryptos by several regulatory bodies in most countries are why these management firms are not able to adapt and critically look at the potential of these digital tokens. If more countries have less strict rules governing the buying and selling of cryptocurrencies in their countries, definitely these digital tokens will experience widespread adoption.

If you are a crypto enthusiast, you will know that in the last couple of years, various countries have imposed rules restricting individuals to invest in cryptos. One of these countries is China which has placed a ban on all crypto activities and even went further to order the financial institutions in the country to freeze the accounts of all those that are linked to cryptocurrency exchanges. While this has proven to be one reason why most people are scared of investing in cryptos, several countries are now realizing and seeing the great potential cryptocurrencies and the blockchain technology has.

Asides those mentioned above, celebrities are now embracing cryptocurrencies with most of them encouraging their millions of social media followers to invest in these digital tokens. Some of these celebrities include; Floyd Mayweather, 50 Cent, Mike Tyson, Lionel Messi and a long list of others. Experts are saying that with more popular and rich people showing interest in these cryptocurrencies, it would not be long before they begin to go mainstream.