Per an article published by Financial Times, the demand for cryptocurrency is putting many private wealth professionals in tricky positions. Many early Bitcoin investors have... morePer an article published by Financial Times, the demand for cryptocurrency is putting many private wealth professionals in tricky positions. Many early Bitcoin investors have realized massive gains through the years, which is tantalizing for high net worth investors (HNWIs). Despite this, cryptocurrency can be a volatile investment fraught with risk, and many private wealth professionals are struggling to keep their clients happy.
Gaining Ground
A 2020 deVere survey of about 700 HNWIs around the world found that roughly 73% already owned or were interested in owning cryptocurrency by the end of 2022, up from 68% just the year private wealth recruiter. Another survey by deVere pointed out that about 80% of millionaires have asked their private wealth management firms about cryptocurrency. Furthemore, some of the world’s biggest legacy institutions offer cryptocurrency investing solutions, including JPMorgan, Fidelity, and many others. Cryptocurrency is gaining ground, and private wealth... less