In an interview with CNBC on Monday, January 4th, UBS Special Wealth Advisor Alli McCartney explained why there is so much interest in Bitcoin among its wealthy customers.

 

Bitcoin interest shifts to the rich

There has been a lot of interest for an important time. Most very wealthy individuals, even those who earn their money in traditional financial resources, take risks. And they understand the concept of risk taking.

I think individuals acting like institutions are now stepping in through an asset allocation game, and I think that’s the reason you’re seeing such an upswing, some really big purchases.

 

Corporate adoption is increasing

Referring to the history of the cryptocurrency and the changing investor profile, McCartney did not neglect to mention institutional adoption.

The story of the first few years was that Bitcoin was a store of value that could be apolitical and diverse. Then when we fast forward you see the numbers increase, which always attracts people’s attention. You are seeing adoption in the form of Bloomberg Galaxy Index. Then you go to Fidelity as a custodian and now you are at PayPal, which allows you to buy and sell with it.

 

Long-term reasons for holding BTC are increasing

Noting the parallelism in adoption and price increase, the server consultant thinks that speculation is slowly disappearing.

See Also
They didn't trust the dollar, they bought $ 150 million of Bitcoin: Their stock jumped 8 percent!

So adoption is growing, the price is rising, and the lack of available alternatives in terms of diversification such as bonds in the market has become largely unusual in terms of relative risk-return. And by the way, the assumption that these are not speculators, unlike a retail investor. These are long-term reasons to buy that can form some kind of substantial base for the currency.

LEAVE A REPLY

Please enter your comment!
Please enter your name here