Fresh Crypto Issues

Report: 76% of Wealthy Individuals in Asia Invest in Cryptocurrency

Report: 76% of Wealthy Individuals in Asia Invest in Cryptocurrency

A new report from Aspen Digital reveals that 76% of Asian private wealth holders have already ventured into digital assets, with another 18% planning future investments. Interest in digital assets has significantly increased since the company’s 2022 survey, which found only 58% of respondents had explored this sector.

The survey included 80 family offices and high-net-worth individuals across Asia, managing assets ranging from $10 million to $500 million. Among those already invested in crypto, 70% have less than 5% of their portfolios allocated to digital assets, though some increased their exposure to over 10% in 2024.

Read more: Mr Beast Allegedly Earned $10M from ‘Pump and Dump’ Crypto Scheme

Blockchain technology, particularly decentralized finance (DeFi) and decentralized physical infrastructure networks (DePIN), is attracting the attention of many Asian investors. About 66% showed interest in DeFi, and 61% are exploring DePIN’s potential.

The report also highlights the optimism of wealthy individuals in Asia surrounding Bitcoin price, with 31% of respondents predicting its price could reach $100,000 by the end of 2024.

Additionally, the introduction of spot Bitcoin ETFs has fueled the growing interest in digital assets. Over half (53%) of respondents have gained exposure through ETFs or funds, echoing a global trend where crypto exposure among hedge funds increased from 29% in 2023 to 47% in 2024. Spot Bitcoin ETFs began trading in the U.S. in early 2024, while both Bitcoin and Ether ETFs launched in Hong Kong in April.

Leave a Reply

Your email address will not be published. Required fields are marked *

About Author

Jose Abalos

Jose Abalos is a crypto and gaming enthusiast. He optimized the decentralization ecosystem will be the future. After graduating from Psychology at Asia Pacific College, Jose won’t stop learning something new! He enjoys discussing the ethics of AI, NFT, politics, and betting.

Categories