Financial elites are defined as US adults who earn at least USD 75,000 a year and who have market investments valued in excess of USD 50,000. According to the survey, 47% of high earners said cryptocurrencies are used for investing, with 10% saying they don’t serve that purpose.
The survey comes amid the recent focus on bitcoin’s price, along with the growing prominence of initial coin offerings that have prompted responses from both Wall Street and Washington.
Peter Van Valkenburgh, director of research at the cryptocurrency-focused think tank Coin Center, said in an interview that investors with high net worth are increasingly considering digital assets for their portfolios because cryptocurrencies are uncorrelated assets that do not usually follow the ups and downs of the stock market, and therefore complement other investments.
He added the public skepticism regarding the investment value of cryptocurrencies is not likely to detract from the evolution of the digital assets, particularly bitcoin, as effective online payments systems.
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