Some 85% of European investors and managers have a bitcoin exposure plan to increase their investments over the next two years.
A January survey of 50 institutional investors and 50 wealth managers with combined assets of $ 110 billion, found that European investors expect bitcoin’s valuation to grow over the next two years. All investors and managers already had a bitcoin allocation, a spokesperson said. The survey did not note the distribution of assets between institutional investors and wealth managers.
Respondents said bitcoin is also attractive because it can provide back cover against oversupply and downside risk of government-backed currencies caused by the COVID-19 crisis.
The survey also found that the market had reached a minimum size for institutional investors, at around $ 1.07 trillion.
Commissioned by cryptoasset hedge fund firm Nickel Digital Asset Management, the survey also showed that over the next two years, 81% of respondents expect companies using bitcoin for their cash reserves to increase. over the next two years.
“A growing number of companies, including automaker Tesla, business intelligence firm MicroStrategy and mobile payments processor Square, have recently allocated sizeable multibillion dollars to Bitcoin as part of their cash reserve strategies,” Anatoly Crachilov, co-founder and CEO of Nickel Digital Asset Management, said in a press release.