A survey by business consulting firm Capgemini has explored the views of more than 2600 high net-worth individuals (HNWIs) on cryptocurrency. They asked individuals with more than $1 million in available funds in addition to real estate, automobiles and other material assets, whether they invest, or would consider investing, in the crypto markets. There are estimated to be in the region of 15 million HNWIs internationally, accounting for a cool $70 trillion in total net worth. It goes without saying that this is a vital group to engage in any mass adoption of crypto.

It was found that over a quarter of this coveted demographic expressed a “high degree” of interest in crypto, with over a half showing awareness of and some interest in the digital currency asset class. But zooming in on the younger part of the sample, we see a dramatic increase in engagement. Over 70% of HNWIs under the age of 40 place “high importance” on receiving crypto news and information from their wealth managers, compared to just 13% of those aged over 60. There were also significant differences by region – interestingly it was Latin America and and Asia Pacific HNWIs who were most interested in crypto, with North America and Europe lagging behind.

It seems that wealth management firms themselves may have some legwork to do to catch up with their clients. Only a third of those sampled had received information on cryptocurrency assets. And the reason cited by both HNWIs and wealth managers as to why they wouldn’t invest in crypto? You’ve guessed it. Price volatility.

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