Many private investors still see hope in institutions that Bitcoin will return to its all-time high as soon as possible. But a not insignificant proportion of institutional investors have already invested in the largest cryptocurrency in the world, as a new report by the financial service provider Fidelity shows.
Fidelity Report: 63% have already invested in digital assets
The US company Fidelity surveyed a total of 800 institutional investors between November 2019 and March 2020 on their opinion about cryptocurrencies, the adaptation of digital assets and possible entry barriers to participate in the market for digital assets. Financial advisors, hedge fund managers, high-ranking investors and organizations were interviewed.
You can find the original report under this Link. We have summarized the most important results for you:
- 63% said they had already invested in digital assets - 27% in the United States and 45% in Europe
- Almost 80% consider an investment in cryptocurrencies to be attractive
- 6 out of 10 respondents believe that digital assets have a legitimate place in the portfolio
- 25% of participants have bitcoins (BTC)
- 11% of the participants own Ethereum (ETH)
- 91% of the respondents indicated that in the future at least 0,5% of their portfolio will consist of digital assets
For Fidelity Digital Assets CEO Tom Jessop, the statements from investors are not surprising:
The results confirm the trend that we see in the market towards increasing interest and acceptance of digital assets as a new investment class. This is evident in the evolving composition of our customer pipeline, which ranges from crypto-native funds to pensions.
But there are still some aspects that keep some investors from entering the digital assets market. According to the surveys, this includes high price volatility (53%), concerns about market manipulation (47%) and the difficulty in correctly evaluating projects for their value due to a lack of foundations (45%).
Goldman Sachs is swimming against the current
But not all institutional investors are positive about cryptocurrencies like Bitcoin (BTC). Because it goes to the US bank Goldman Sachs, Bitcoin is still not an asset class. In a Presentation For their customers, it was said a few days ago that cryptocurrencies like Bitcoin are not an asset class. It also says they don't generate cash flow like bonds do, and bitcoins can't dampen volatility because the cryptocurrency's price dropped 37% in one day.
According to Goldman Sachs, cryptocurrencies could be of interest to traders. However, this is not an argument for an investment. You can read about the sometimes exciting reactions of the Twitter community and all the details about the Goldman Sachs presentation in our article:
Markus from Kryptokumpel.de
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