According to Cointelegraph, a recent survey by Bitwise revealed that over half of US-based financial advisers are more inclined to invest in cryptocurrency following Donald Trump's victory in the United States presidential election. Conducted between November 14 and December 20, the survey gathered responses from 430 financial advisers, with 56% indicating a heightened likelihood of investing in crypto this year due to the election results on November 5.
The crypto industry is optimistic about Trump's potential influence in fostering a crypto-friendly environment in the US. Jack Mallers, founder and CEO of Strike, speculated that Trump might issue an executive order on his first day in office, designating Bitcoin as a US reserve asset. Among advisers already investing in crypto, nearly all (99%) plan to either maintain or increase their exposure this year. A similar percentage reported that clients have begun inquiring about crypto over the past year.
Bitwise's chief investment officer, Matt Hougan, noted that advisers are increasingly recognizing crypto's potential and are allocating resources accordingly. Additionally, 71% of advisers observed that their clients are independently investing in crypto, viewing it as an opportunity for future growth. Bitwise highlighted that these independently held assets present a significant business opportunity for advisers aiming to integrate crypto into broader wealth plans.
Despite the growing interest, access remains a significant barrier to crypto adoption. Bitwise reported that only 35% of advisers can purchase crypto in client accounts. Meanwhile, Bitcoin's price has been volatile, trading at $93,240 at the time of publication. It dropped to $92,500 on January 8 after briefly surpassing the $100,000 mark on January 7, the first time since December 19.
US-based entities continue to see a substantial increase in Bitcoin reserves compared to offshore holdings. As of January 9, the share of Bitcoin reserves held by US entities reached an all-time high, with reserves 65% greater than those held by non-US entities, according to data from CryptoQuant.
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