Capgemini, a consulting firm in its world report 2018, observed huge interest in cryptocurrency investments by rich people as reported by cointelegraph
Capgemini interviewed a host of HNI’S and asset managers to fathom their interest in cryptocurrency investment. The interviewer revealed that 1/3 of HNI’S showed a keen interest in cryptocurrency and ¼ expressed general interest
Cryptocurrencies commendable potential to offer exorbitant returns and store value was the driving force behind interest displayed by HNI’S. The interest level of people under 40 for information on cryptocurrency by their asset managers was very high whereas it was tepid interest for people over 60.
However, the asset managers were reported to be cautious over cryptocurrency and were cagey to discuss it with their clients.1/3 of investors informed that they get relevant information on cryptocurrency from their asset manager.
The report says a varying level of interest in cryptocurrency across regional geographies. Millionaires in Europe and Japan displayed modest interest whereas people from South America demonstrated a high level of interest.
Increased client interest in cryptocurrencies has driven some firms in the financial sector to take a friendlier stance toward digital assets. As crypto has grown more popular, Goldman Sachs has softened its position. In 2014, the investment bank said Bitcoin was not a currency and was too risky for investors while in May of this year, the firm announced that they would explore trading cryptocurrencies due to increased client interest.
Today, Goldman Sachs COO David Solomon said that the company is already assisting clients in publicly-traded crypto derivatives such as Bitcoin futures and that the company is cautiously exploring other forms of crypto derivatives. Solomon said, “We’re listening to our clients and trying to help our clients as they’re exploring those things too.”
