Cryptocurrency Update
/Analysis: 1bn people will own cryptocurrency by the end of the year
Analysis by Crypto.com shows the number of people who owned cryptocurrency tripled in 2021 from January’s numbers (106 million) to December’s numbers (295 million). At this rate, by the end of 2022 we could see one billion people own cryptocurrency.
Bitcoin users grew by nearly 40 per cent from 128 million in July 2021 to 176 million in December, while Ethereum users increased by 14 per cent.
Crypto study: 80% of asset managers looking well upon thee
A study by digital assets hedge fund manager Nickel Digital Asset Management shows nearly 80 per cent of institutional investors and wealth managers are looking favourably on crypto. Their reasons? Strong capital growth and diversification benefits.
Key findings include:
Forty-three per cent of investors have a significantly more positive view of Bitcoin than at the beginning of the pandemic
Thirty-five per cent say their view has improved slightly
Nine per cent continue to hold a negative view of crypto
As for Ethereum, 77 per cent say their view has improved, while seven per cent remain negative
When quizzed on why the change of heart, 58 per cent said capital growth and 53 per cent said crypto and other digital assets had attractive diversification benefits when compared to traditional asset classes, with some saying improving custodial services, improving market cap, positive impact on liquidity, improving regulation, increased options and the overall growth of decentralised finance
The survey was conducted on 50 institutional investors and 50 wealth managers across the US, UK, Germany, France and the United Arab Emirates.
