In the recent survey by Fidelity Digital Assets, a Fidelity company arm that focuses on crypto, nearly 90% of financiers find cryptocurrency appealing. That is because digital assets have proven profitable. 80% of surveyed individuals think that it might be sensible to include crypto on their savings portfolios.
Examining 1,100 institutional savers globally also showed some insights into why investors remain warry of digital tokens. 54% highlighted issues with price volatility as 44% listed inadequate fundamentals to use when gauging the coins’ value. Institutional investors believe that solving these problems will promote cryptocurrency’s widespread adoption.
52% of the surveyed individuals revealed that they have already had various digital assets investments. Interestingly, most of these participants come from Europe and Asia, and a few of them are from the United States. The COVID-pandemic was among the reasons that the crypto market saw increased acceptance this year.
Crypto interest also received support from the increasing news by central banks exploring CBDCs and blockchain technology. Such actions appeared to boost investor confidence as far as digital assets are concerned. The study shows that around 69% of the investors have a somewhat neutral-positive opinion on the USD-backed CBDC.
Also, Fidelity Digital Asset plans to increase its employees by around 70%, confirming the surging interest by investors towards the crypto market. In the latest Bloomberg interview, Tom Jessop, the company’s president, confirmed that Bitcoin attracted many institutions. He believes that the move shows that crypto has a place in the future. Jessop also confirmed their plans to satisfy the rising Ether demand.
On the other hand, El Salvador faces investigations about its Bitcoin law. The Court of Accounts stated that it received complaints from Cristosal, transparency, and human rights organization concerning the BTC trust’s expenditure in the country.
That comes almost a week after El Salvador legalized BTC. However, the move encountered unwelcoming events, from a bumpy start on Chivo wallet to protests that had BTC kiosk burnt some two years ago. The Court will investigate and might impose asset and administrative sanctions against the officials. Some individuals believe that the nature of BTC adoption in El Salvador might see institutional investors losing confidence.
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