Asia will be next to experience a crypto blast soon

According to an Accenture study, cryptocurrencies will experience massive growth among top Asian investors in the future.

More than half of rich investors own cryptocurrencies, with another 21% planning to do so by the end of the year.

What do reports predict?

Accenture has made a survey of Asian investors’ digital asset portfolios.

“Digital Assets: Unclaimed Territory” surveyed 3,200 clients across Asian regions for the research. It took place in key Asian economic centers such as India, China, Japan, and others between December 2021 and January 2022.

It’s worth noting that the study was conducted in a more favorable macro environment than exists now. Risk markets throughout the world have been severely impacted by the Russian invasion and Fed policy.

Investors dedicate nearly 7% of their portfolios to digital assets on average (cryptocurrencies, crypto funds, security tokens, and asset-backed tokens).

Digital assets are more popular among younger investors, but the trend is consistent across markets, wealth levels, and genders.

Wealth management organizations are missing out on a $54 billion income stream from digital assets.

The majority of this revenue comes from transaction fees, with the balance coming from advising and custody fees.

According to the research, around two-thirds of these companies have no intentions to provide digital asset ideas.

“I don’t believe digital assets are a profitable business.” One CEO speculates that it may be used in online securities for the general public rather than the rich.

There are signs that many people are still having difficulty investing in cryptocurrencies.

In many markets, this might be attributed to a lack of regulatory clarity.

China, in particular, has taken a strong stance against cryptocurrency use. Changes to the advice process and other operational restrictions are also issues.

The cryptocurrency market’s price volatility also a big role here.

Take Bitcoin, which has lately fallen to approximately $30,000 after peaking at $68,000 in November. One CEO was even quoted as claiming that digital assets aren’t lucrative.

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