A new survey suggests that hedge fund managers, asset managers and institutional investors who already hold cryptocurrencies intend to increase their share even further.
According to the survey, institutional cryptocurrency investors intend to continue buying
A survey conducted by the London cryptocurrency fund Nickel Digital Asset Management found that 82% of the 100 investors and asset managers surveyed expect to increase their exposure to digital assets by 2023.
The survey, conducted online in May and June, consisted of 50 asset managers and 50 institutional investors with prior exposure to digital assets in the United States, the United Kingdom, France, Germany and the United Arab Emirates.
Four out of ten respondents, 40%, said they would “dramatically increase their stakes”, only 7% said they intended to reduce their exposure and only 1% planned to sell their entire stakes.
However, Nickel said that in most cases, institutional investors who own cryptocurrencies have very low levels of exposure because “many of them are currently testing them to see how they will work.”
The survey revealed that the main reason for greater investment in digital assets is the prospect of long-term capital growth, according to 58% of respondents. Despite the huge market slump, BTC still reached 18% this year and ETH even an incredible 215% since January 1.
Approximately 38% of respondents confirmed that some exposure to digital assets gave them more confidence in this asset class, while 37% cited more leading companies and fund managers investing in crypto assets as a reason for further investment.
Nickat Digital co-founder and CEO Anatoly Crachilov said confidence in the asset class is growing and expects the trend to continue:
“Our analysis in early June this year revealed that 19 listed companies with a market capitalization of over $ 1 trillion have invested approximately $ 6.5 billion in BTC and initially spent $ 4.3 billion buying cryptocurrencies.”
The growing popularity of cryptocurrencies is confirmed by other surveys, such as that conducted by British investment firm AJ Bell’s, which has shown that the British have invested more in cryptocurrencies over the past year than in traditional stocks and stock-based investments.
A MasterCard survey of more than 15,500 people in 18 countries in May revealed that four out of ten people plan to use cryptocurrencies for payments over the next year.