76% of Wealthy Asian Investors Switch to Crypto in 2024

[Suba]

An article from online media, Intl.aspendigital.co, said that around 76% of investors in Asia have entered the crypto world, reflecting the increasing adoption of crypto among elite investors.
In a previous survey conducted in 2023, only 58% of wealthy investor respondents had tried investing in crypto.

Based on an article in Cointelegraph, which has conducted the latest survey for 2024 involving families and individuals with wealth between $10 million and US$500 million.

Although until now, wealthy Asian investors are still small in investing in crypto or only around 5%-10% of their portfolio in crypto. Their interest in investing in the crypto world is not only from making profits, but also their belief in blockchain technology which will be an integral part in the future.

 

[King Belieal]

I always wonder how these Asians get to involve in crypto when there are strong sanctions against crypto in most Asian countries.

 

[Suba]

I always wonder how these Asians get to involve in crypto when there are strong sanctions against crypto in most Asian countries.

As far as I know, only China has strict rules on crypto, besides, even in Singapore crypto is tax-free, in Japan crypto can be used to buy goods, while in other Asian countries it is only not allowed to be used as a means of exchange, but can be traded on local or global crypto exchanges.

 

[King Belieal]

It is just a matter of time before, even the millionaires in Asia would jump on bitcoin with the support that Trump potentially has for it.

 

[arunima25]

The sentiments on crypto are quite positive from the time American election results are out. Trump supports it and that has brought a lot of positivity. But still in our country India, it does not have a clear picture. The crypto earnings and gains are taxable. And goverment rules and the rules of our central bank, RBI discourages it. It's not illegal anymore, but the picture is not clear. Cases of money laundering and terror funding through cryptos make it tough for government to come with a clear acceptance of cryptos.

 

[Min George]

Crypto has afforded these Asian investors an avenue to hold their wealth without scrutiny from government.