Cryptocurrency has its risks and certainly isn’t for everyone.
Just how hesitant are they? The deVere group, one of the world’s largest independent financial services organizations chose to find out.
In a survey with over 800 respondents deVere clients from the U.S, the UK, Australia, the UAE, Qatar, Switzerland, Hong Kong, Spain, France, Germany and South Africa revealed whether or not they would include cryptocurrency in their portfolio.
The survey showed that 6 out of 10 people with currently no exposure to cryptocurrencies would consider including cryptocurrencies like Bitcoin into their investment portfolios and that 7 out of 10 people who do hold cryptocurrencies are planning to increase their exposure in the next 12 months.
When asked,“Would you consider, or are you considering, including at least one cryptocurrency into your investment portfolio?” 62 % of those who do not have any cryptocurrency said ‘yes’, 26% said ‘no’, and 12 % said, ‘do not know,’ Of the investors who already had cryptocurrencies as part of their porfolio, 71% said they were looking to increase the exposure over the next year, 25% said they would not, and 4 % cited that they did not know.
DeVere Group’s founder and CEO, Nigel Green, comments: “The fact that more than 60 per cent of people with currently no exposure to cryptocurrencies would consider including them into their investment portfolios is striking. It underscores how, despite what many financial traditionalists have opined, that a majority of investors are now open to consider the opportunities that the likes of Bitcoin, Ethereum and Ripple could present.”
He continues: “The survey also highlights that the majority of those who do currently hold some cryptocurrency as part of their investment portfolio believe that despite ongoing volatility, the potential rewards will outweigh the potential risks.
Recently, The Winklevoss twins, brothers who run the Gemini exchange for trading Bitcoin and Ether proposed the Virtual Commodity Association. This would be a self-regulatory organization meant to police digital-currency markets and custodians that would work with regulators like U.S. Commodity Futures Trading Commission to prevent fraud.