A survey conducted by the US investment firm Bitwise found that the percentage of financial advisors who recommend their clients to invest in cryptocurrencies and thus include them in their portfolios is expected to double to 13% in 2020.
If this is the case, it would be a 100% increase, since last year the percentage was 6%.
Reasons for the crypto adoption in the US
This increase, according to the survey and thus the advisors interviewed, is probably due to two reasons:
- The poor correlation between cryptocurrencies and traditional assets, which is how 54% of respondents answered;
- A direct increase in customer demand (26% of respondents).
In total, Bitwise’s study interviewed over 400 financial advisors, 53% of whom had assets under management (AUM) exceeding $100 million and 10% with an AUM greater than $1 billion.
Another interesting finding by Bitwise also reveals that 72% of advisors claim that their clients could invest in cryptocurrency independently, outside of their advisory relationship.
In fact, other studies have also recently shown that proper investment in crypto as part of one’s portfolio compensates for investment risks.
Bitcoin: the best performing asset of the decade
According to another research conducted by Bloomberg in January 2020, bitcoin (BTC) is the best performing asset of the decade, recording gains of over 9,000,000% from July 2010 to date.
These positive data are also supported by the upcoming BTC halving, an event that historically marks new increases for the price of bitcoin and also for many of the so-called “altcoins” that often follow the trend of the crypto queen.