Asia's private wealth is moving towards digital assets

Asia's private wealth is moving towards digital assets: 94% of investors are considering investing in cryptocurrencies

According to a recent report by Aspen Digital, Asia appears to be emerging as an innovative leader in cryptocurrency and digital asset investments. According to the survey, which included 80 family offices and high net worth individuals, 94% of respondents are investing in cryptocurrencies or considering it, up significantly from 58% the previous year.

The report suggests that nearly a third of respondents believe the value of Bitcoin will surpass the $100,000 mark by the end of 2024. According to the data, 76% of Asia's private wealth have already invested in digital assets, with a further 18% planning forward-looking investments.

A fundamental shift in interest in blockchain and cryptocurrencies was evident among respondents who have already invested in cryptocurrencies. Although 70% have allocated less than 5% of their portfolios to digital assets, some plan to increase this allocation to more than 10% in the coming months.

The technological applications of blockchain are attracting increasing attention. Two-thirds of respondents expressed interest in decentralized finance (DeFi), while 61% responded to opportunities in artificial intelligence and decentralized physical infrastructure networks (DePIN). Similar trends are emerging in the global cryptocurrency market.

Optimism about Bitcoin is strongly evident among Asian investors. A third of respondents expect the Bitcoin price to reach $100,000 by the end of the year. This optimism corresponds with a surge in interest in exchange-traded funds (ETFs) focused on digital assets. As many as 53% of respondents have already gained exposure to cryptocurrencies through these funds.

In line with global trends, the Global Crypto Hedge Fund Report from AIMA and PwC shows an increase in hedge fund exposure to cryptocurrencies from 29% in 2023 to 47% in 2024. These changes are driven by clearer regulations and the launch of cryptocurrency ETFs in both the United States and Asia.

In the US, spot Bitcoin ETFs began trading in January 2024, while Hong Kong followed in April with the launch of Bitcoin and Ether ETFs. This boom shows that Asian investors are increasingly focusing on new opportunities in digital assets, shaping the future of their investment strategies.

*This is not investment advice.

Coingarage Team