Crypto
Study Finds Nearly 60% of Hong Kong and Singapore’s Super Rich Have Invested in Digital Assets – Featured Bitcoin News
In keeping with a examine collectively revealed by KPMG China and Aspen Digital, about 58% of Singapore and Hong Kong’s household workplaces and high-net-worth people have invested in digital property. Studies counsel the information exhibits the crypto market downturn has not diminished the super-rich’s curiosity in digital property, and is unlikely to dissuade them from growing their holdings of those property.
Singapore and Hong Kong’s Tremendous-Wealthy More and more Desirous about NFTs
Almost 60% of household workplaces and high-net-worth people (HNWI) from Hong Kong and Singapore have invested in digital property, whereas 34% are planning on doing the identical, a brand new examine has discovered.
Moreover holding BTC and ETH, the examine discovered the 2 areas’ super-rich have additionally proven elevated curiosity in non-fungible tokens (NFTs) and decentralized finance (defi) merchandise. Commenting on the examine’s findings, collectively revealed by KPMG China and Aspen Digital, the latter agency’s CEO Yang He stated:
NFTs have seen an explosion in curiosity since 2021, whereas the curiosity in Defi started in 2020 and stays fascinating.
In keeping with a South China Morning Put up report, among the many 30 household workplaces and HNWIs that participated within the examine, greater than 60% had property beneath administration (AUM) that ranged between $10 million and $500 million. As famous within the report, the 2 areas’ super-rich weren’t dissuaded from investing in crypto property by the market’s downturn.
Household Places of work Could Allocate Extra to Digital Property
In the meantime, the Aspen Digital CEO reportedly stated he expects the wealthy households from these areas to extend the proportion of their wealth invested in digital property. Yang He’s sentiments are echoed by Paul McSheaffrey, senior banking companion at KPMG China. He stated the excessive chance of upside is what could immediate rich households to allocate extra to digital property.
“For HNWIs and household workplaces, there may be [a] actual risk of a giant upside, so they might assume why not stick 2 or 3 per cent of my portfolio in that and see what occurs,” McSheaffrey stated.
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