One in Three High Net Worth Individuals are Interested in Holding Cryptocurrency

The latest World Wealth Report 2017 released by Capgemini, a multi-billion dollar French professional services company, revealed that 29%, nearly one in three, high net-worth individuals are interested in holding cryptocurrency in the long-term.

Intriguingly, possibly because of these large returns over the past two years, the World Wealth Report disclosed that one in three high net worth investors are considering investing in major cryptocurrencies like Bitcoin and Ethereum as long-term investments, and another 27% of investors show interested in the cryptocurrency market.

"Enthusiasm for digital currency is growing. 29% of HNWIs say they have a high degree of interest in holding cryptocurrencies and another 27% were somewhat interested."

The cryptocurrency market, as $87 billion investment bank Goldman Sachs CEO Lloyd Blankfein noted this week, is an emerging market that can no longer be dismissed given its robust infrastructure and a large amount of capital from retail investors that has already been injected to the market.

At the Economic Club of New York conference, Blankfein also noted that there exists a possibility that Bitcoin or another cryptocurrency could become a natural progression from fiat or paper money to digital money, and emphasized that the possibility of digital assets replacing traditional currencies cannot be ruled out.

High net worth individuals and large-scale investors can invest through cryptocurrency exchanges like Coinbase and Gemini with minimal verification and straightforward Know Your Customer approval.

For high net worth individuals to commit millions of dollars to the cryptocurrency market, trusted custodian solutions are necessary.

Coinbase, the world's largest cryptocurrency exchange, wallet platform, and brokerage recently revealed Coinbase Custody, a custodianship high net worth individuals and institutional investors can utilize to invest in the market.

Kyle Samani, a co-founder and managing partner at cryptocurrency hedge fund Multicoin Capital, said that custodianship has often been the last barrier for many investors and the emergence of cryptocurrency custodian solutions will likely lead to an influx of large-scale retail and institutional investors entering the cryptocurrency market.

Without a doubt, given the low volume and the strong downward trend of major cryptocurrencies, the cryptocurrency market is in a bear market and an accumulation period.