Crypto NewsBitcoinResearch: Are the Rich Losing Interest in Bitcoin and Cryptocurrencies?

Research: Are the Rich Losing Interest in Bitcoin and Cryptocurrencies?

Goldman Sachs, one of America's largest financial institutions, has released new data on the view of wealthy families towards crypto.

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US-based banking and investment giant Goldman Sachs shared the current status of its crypto research that it carried out about 2 years ago with its customers.

According to a Goldman Sachs survey of wealthy families and individuals, interest in digital assets has decreased significantly due to the bear market. The chart table shared by the experts revealed that the proportion of the rich who are not interested in investing in crypto money has increased from 39% to 62% since 2021.

The data collected from 166 different family offices around the world also determined that the segment that did not take a decision on cryptocurrencies decreased from 45% to 12%. The rate of those who view digital assets positively increased from 16% to 26%.

What is the Reason for Investors?

Goldman Sachs researchers interviewing large and wealthy families also questioned what appealed to those who answered "I'm interested in crypto".

While 68% of those who responded negatively could not see the future in cryptocurrencies, 19% stated that they believed in the power of blockchain technology. Separate segments of 9%-8% addressed DeFi applications, the claim that crypto is a store of value, portfolio distribution and speculation.

Experts interpreting the survey data look for the reason for the negative trend in increasing regulatory pressure, bear market, rising interest rates and sinking crypto startups.

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