Cryptocurrencies and other blockchain assets such as NFTs, altcoins, etc., are quickly taking over the investment world. Those days when holding real estate or stocks were the only investment opportunities are quickly becoming the things of the past. Instead, Crypto assets are becoming the preferred choice, as evident from the new survey of 100 CFOs of hedge funds around the globe.
According to this survey, the industry will likely see a significant increase in crypto investments in the next five years. This survey was conducted by Intertrust and suggests if the growth of the crypto ecosystem continues at the same pace, in five years, the crypto assets held by global hedge funds could ultimately reach $312 Billion. The survey includes samples from CFOs that manage an average of $7.2 Billions in assets, and they expect to hold at least 1% of crypto assets in their portfolios in the future.
However, US-based funds will be the leaders in this economic revolution and contribute to around 10.6% of this growth. While their counterpart and a popular crypto destination, European Region is not far behind with a 6.8% contribution.
Some prominent hedge fund managers such as Paul Tudor Jones are strong supporters of cryptocurrencies such as Bitcoin regardless of inflationary trends. Anthony Scaramucci, the CEO of SkyBridge Capital, takes a similar stand and sees Bitcoin as superior to Gold.
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In related news, another prominent name in the industry Alan Howard, the co-founder of great asset manager Brevan Howard has shown his support for Bitcoin recently. Last week Howard invested in two digital/crypto-assets startups after his previous investment in Nomura, a digital asset custody service provided in partnership with CoinShares and Ledger. Howard also owns a %25 stake in One River Digital Asset Management, and there have been speculations about his plans to invest directly in crypto.
This growing confidence from hedge fund managers in the crypto space will significantly promote crypto adoption and lead to widespread adoption.