A recent survey conducted by the deVere Group revealed an interesting trend: an increasing number of people are turning to cryptocurrencies for investment and portfolio diversification.
According to the survey, which can be found here, cryptocurrency investments are gaining popularity as an alternative to traditional fiat investments. This trend is expected to continue as cryptocurrencies become more widely accepted and the market stabilizes.
When asked if they would consider including at least one cryptocurrency in their investment portfolio, 62% of respondents who had no current involvement in the market responded affirmatively, while only 26% said no. The remaining 12% indicated that they hadn’t made a decision yet.
Among those who already own cryptocurrencies, 71% said they would consider increasing their investments this year, while 25% said they would not. The remaining 4% were unsure about their investment plans.
The survey results are significant, with 60% of respondents expressing a positive attitude towards cryptocurrency investments. Nigel Green, CEO of deVere, stated that this demonstrates a growing openness among investors to explore the potential opportunities presented by cryptocurrencies such as Bitcoin, Ethereum, and Ripple. Despite the high volatility associated with cryptocurrency investments, there is a clear market trend towards increased cryptocurrency trading.
Green attributed this trend to a general increase in awareness about cryptocurrencies and their functioning, as well as a growing belief that cryptocurrency regulation is inevitable. These factors contribute to a high percentage of individuals considering cryptocurrencies as part of their investment portfolios.
By the end of 2017, the global volume of cryptocurrency markets had exceeded $50 billion, approaching the average daily volume of the New York Stock Exchange (NYSE). This demonstrates the popularity of digital currencies despite their relatively short existence compared to the NYSE.
The deVere Group, established in 2002, is a global independent financial consulting firm. The survey involved 800 deVere clients from various countries including the UK, Australia, the US, Switzerland, Hong Kong, and South Africa. With over 80,000 clients worldwide, the company currently manages portfolios worth more than $10 billion.