Greater than half of US-based monetary advisers responding to a survey by Bitwise stated they’re extra inclined to spend money on crypto as a result of Donald Trump’s United States presidential election victory.
Bitwise’s newest survey — performed from Nov. 14 to Dec. 20 — requested 430 monetary advisers about their attitudes towards crypto, with 56% indicating they’re extra prone to spend money on crypto this yr following the US election outcomes on Nov. 5.
The crypto business is broadly anticipating Trump’s assist in steering the US towards a crypto-friendly atmosphere. Jack Mallers, founder and CEO of Strike, stated it’s doable that Trump may difficulty an government order on his first day in workplace, designating Bitcoin (BTC) as a US reserve asset.
Amongst these advisers already investing, virtually all (99%) “plan to both preserve or improve” their crypto publicity this yr. An identical proportion of advisers stated purchasers have began asking questions on crypto over the previous yr.
Bitwise chief funding officer Matt Hougan stated:
“Advisors are awakening to crypto’s potential like by no means earlier than and allocating like by no means earlier than.”
In the meantime, 71% of advisers reported that their purchasers had been investing in crypto independently, with advisers seeing it as an opportunity for future progress.
“These held-away belongings signify a significant enterprise alternative for advisers in search of to assist purchasers combine crypto right into a broader wealth plan,” Bitwise stated.
Entry continues to be a “main barrier” to crypto adoption
Nonetheless, Bitwise stated that entry “stays a significant barrier to adoption.”
“Solely 35% of advisers stated they can purchase crypto in consumer accounts,” Bitwise stated.
Bitcoin is buying and selling at $93,240 on the time of publication. Supply: CoinMarketCap
Bitcoin’s value has been experiencing volatility as of late, dropping to $92,500 on Jan. 8 after briefly surpassing the $100,000 psychological value degree on Jan. 7 for the primary time since Dec. 19.
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In the meantime, Bitcoin reserves held by US-based entities continue to develop considerably in comparison with these held offshore.
US entities’ Bitcoin reserve share reached an all-time excessive as of Jan. 9, with reserves 65% larger than these held by non-US entities, CryptoQuant knowledge revealed.
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