Fidelity Digital Assets Reveals Significant Institutional Crypto Adoption in Coming Years

20 July 2021 | Updated: 20 July 2021

According to a recent study organized by Fidelity Digital Assets, seven out of ten global institutional investors (70%) will likely purchase cryptocurrency in the future. Meanwhile, 50% of the participants in the survey revealed that they already own cryptocurrencies.

Most of the participants asserted that the highly volatile nature of digital assets was not enough to stop them from purchasing cryptos soon.

Of the 1,100 participants involved in the survey, 90% of those who exhibited an interest in cryptocurrency expect their portfolio or that of their customers to hold direct cryptocurrency investments within the next five years.

The survey consisted of institutional players like hedge funds, high net worth individuals, financial advisors, endowments, and family offices. Interestingly, Fidelity Digital Assets was one of the first financial services providers to adopt cryptocurrency.

Previous Surveys by Fidelity Digital Assets

The Boston-based financial services company carried out a similar survey last year, where it discovered that 36% of institutional investors admitted to owning digital assets or their derivatives. At the time, the financial services company asserted that 27% of all institutions based in the US had purchased cryptocurrency. Not surprisingly, about 25% of the participants held Bitcoin, while 11% held Ethereum.

Later in 2020, the company published a report terming Bitcoin an “aspirational store of value.” Fidelity noted that the benchmark cryptocurrency is still a relatively young asset class and is open for mass adoption.

While the company highlighted gold as the undisputed leader amongst traditional investment options, it argued that Bitcoin could catch up to it once it receives mass adoption. Speaking on the matter, investor John Pfeffer noted that:

“Most people in the world don’t yet see Bitcoin as digital gold. As soon as people see it in a different way, the price will adjust.”

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.