A recent survey conducted by Bitwise reveals a noteworthy shift in attitudes towards cryptocurrency among U.S. financial advisers. Following the presidential election victory of Donald Trump, over half of the respondents — 56% — indicated a heightened willingness to invest in cryptocurrencies this year. The survey, which took place from mid-November to late December, engaged 430 financial advisers, highlighting a significant trend influenced by the political landscape.
The crypto sector is optimistic about potential changes under Trump’s leadership, with speculation that he may initiate an executive action to classify Bitcoin as a reserve asset early in his administration. The findings underscore a growing recognition of cryptocurrency’s potential among financial advisers, as noted by Bitwise, with almost all advisers currently invested in crypto expressing intentions to either maintain or ramp up their exposure in the coming year.
Furthermore, the survey indicates a surge in client interest in digital assets, with a notable percentage of advisers reporting that clients have been increasingly inquiring about cryptocurrencies over the past year. This shift presents a substantial opportunity for advisers to integrate cryptocurrency considerations into broader wealth management strategies, particularly as 71% of advisers noted that their clients are venturing into crypto investments independently.
Despite this positive momentum, barriers to widespread crypto adoption persist. The survey pointed out access challenges, with just 35% of advisers stating that they have the ability to directly purchase crypto for client accounts. This limitation highlights the need for greater accessibility in the rapidly evolving financial landscape.
On the price front, Bitcoin has experienced notable fluctuations, recently dropping to $92,500 after surpassing $100,000 only days earlier. Additionally, U.S. entities have significantly increased their Bitcoin holdings, with reserves now 65% higher than those held by non-U.S. investors, indicating a strong domestic interest in the cryptocurrency market.
