Advising Bitcoin (BTC), altcoins or DeFi tokens to its clients: a « crime that would be worth a referral or even a trial to a worthy adviser. At least, that was before! The number of financial advisors recommending cryptos has increased considerably in 1 year.
Numbers that speak in favor of Bitcoin and its cadets.
According to a study by Bitwise Asset Management and ETF Trends, the number of financial advisors investing in cryptosystems has increased by about 50% in the space of a year.
Investigators surveyed nearly 1,000 financial advisors based in the United States during the month of December 2020.
The responses indicate that nearly 10% of client portfolios were now exposed to cryptos compared to 6.3% a year ago.
While the majority of advisors surveyed are in favour of the idea of investing personally in cryptos, 24% have already taken the step.
This change in attitude is mainly due to the economic crisis that has gradually taken hold due to the coronavirus pandemic.
The majority of the advisors surveyed cited uncorrelated returns as the biggest advantage of investing in cryptos.
For 25% of the respondents, cryptos and in particular Bitcoin offer a hedge against inflation.
81% of the financial advisors admitted to having been asked by their clients about the advisability of investing in cryptos.
Bitcoin now has more Wall Street followers
Following the release of these results, Bitwise indicated that the number of advisors allocating more capital to cryptos could double or more by 2021.
These predictions are in line with the analysis of ETF Trends Managing Director Tom Lydon .
According to him, financial advisors are increasingly looking for exposure to alternative assets, with an increased interest in cryptos.
The survey also revealed that the number of BTC detractors among financial advisors is declining.
Only 4% of them predict a collapse of Bitcoin. 15% believe that the price of Bitcoin will reach 6 digits, compared to only 4% the year before.
The adoption of cryptomoney is growing among traditional financial players. Advisors are turning over their jackets: soon it will be the turn of primary banks, then central banks?
Bitcoin (BTC) January 28, 2021 – An amazing day!
Bitcoin (BTC) regains USD 32,000 after the big correction of the day before. It’s hard to talk about a bullish BTC in the short term. The Bitcoin rate of the day is offered in partnership with the Swissborg application. For a…
When the price of the Big-Mac makes you want to stack Bitcoin (BTC)
The inflation of the fiats, the devaluation of the dollar: are we making a big cheese out of it? The Big Mac mathematically demonstrates Bitcoin’s (BTC) victory over the greenback. If you can’t buy 1 Bitcoin, buy 1 Big Mac To better understand the impact of the BTC’s victory on the greenback…
After Coinbase, Binance (BNB) launches its IPO?!
As the years go by, our sector is constantly improving. As institutions, companies and banks realise its potential, the boundary between the two worlds is becoming increasingly fine. It seems as if…
Firo suffered a 51% attack
Firo (XZC) wants to offer better confidentiality to its users: the project should already be able to protect itself from a classic 51% attack. Firo is therefore today the last blockchain using the Proof of Work, victim of a…