- Reports state that one of the biggest jump was noticed by U.S high-net worth investor’s future intentions
- The study conclude that despite headwinds digital assets fundamental had remained strong
- Bitcoin has railled over 10 per cent since wednesday and Ethereum has jumped over 15 per cent
Fidelity Digital Assets released its annual study on institutional investment in digital assets on Oct 27. The study concludes that despite headwinds digital asset fundamentals have remained strong but at the same time the adoption remains highly uneven among different types of investors.
According to the survey of Fidelity Digital Assets 1,052 institutional investors in Asia, Europe and the United States Fidelity found digital asset adoption was up in the U.S and Europe by 9% and 11% respectively, to 42% and 67%. Asia experienced a slight decline in adoption but remained the leader at 69% regardless.
Reports also state that one of the biggest jumps which was noticed was in U.S high-net-worth investor’s future intentions and among them 74% of investors plan to buy or invest in digital assets in the future,which is up from 31% a year earlier . Fidelity Digital assets president Tom jessop commented in the report
“Institutional investors are experienced in managing through cycles, and the largely inherent factors that they cited as appealing in this study will likely remain as the market emerges from this period.”
Bitcoin has railled over 10 per cent since wednesday and Ethereum has jumped over 15 per cent. Still, according to the experts, the crypto market crisis is still not over.
“This should not be considered as crypto winter is over. We are not there yet. Crypto is not immune to global factors or economies of the world.” Dileep Seinberg who is founder & CEO
Muffinpay, said
“This can be considered as a relief rally as the worst was priced in the market and the things were not as bad as they were expected to be. A 75 bps rate hike is less hawkish than a 100 bps rate hike.
Crypto winter has been very rough on the crypto market. As per the reports the market has ended up losing around US$ 2 trillion since november 2021. Still Despite crypto winter about 56% of consumer says that they are somewhat still interested in buying cryptocurrency within the next year according to the survey of PYMNTS and Bitpay August “Paying with cryptocurrency”
“History has shown us that the market has defied all odds even during downward periods, so investors remain positive about the ability of bitcoin and cryptocurrency to remain resilient , ” says Lyandra Smith Bryan, chief operating officer of Quantfury.
Source: https://www.thecoinrepublic.com/2022/10/28/digital-asset-fundamentals-remains-strong-despite-headwinds-fidelity-digital-asset-report/