Bringing you live news and features since 2006 

Bitcoins

Cryptocurrencies failing to convince many investors

RELATED TOPICS​

Investors in the Assetz Capital platform are yet to be convinced by cryptocurrencies, with just 16 per cent seeing them as worthwhile investments.

The peer-to-peer lending platform canvassed the views of its investors in the Q1 Assetz Capital Investor Barometer. Some 43 per cent believe the entire market is on the brink of collapse, while 40 per cent feel cryptocurrencies are still too immature at present with significant risks attached. Only 14 per cent feel it is a worthwhile investment but only in moderation, with just 2 per cent thinking it is the future of investments.
 
This follows a period of volatile price swings in the cryptocurrency market, which in February saw the value of Bitcoin hitting lower than USD7,000 compared to almost triple that amount in December 2017.
 
Another blow to the market came in February when a number of banks banned their customers from purchasing cryptocurrency with credit cards, and Bank of England Governor, Mark Carney, claiming that Bitcoin has failed as a currency.
 
Stuart Law, CEO at Assetz Capital, says: “The rise in cryptocurrency over the past 12 months has been driven by consumers’ search for fairer returns on their investments. Traditional banking has failed to deliver in this sense over the last decade, so as technology makes alternative investments more accessible, it is obvious that investors would look elsewhere.
 
“However, there’s clearly still a great deal of uncertainty amongst smart investors when it comes to cryptocurrency – the market is still in its unpredictable infancy, so the risk and wild daily swings in value of cryptocurrencies is proving too much for many.”

Latest News

ETF transaction volumes at SIX Swiss Exchange continued a positive trajectory during Q1 2024, the firm says, writing that, in..
Figment Europe, a provider of institutional staking infrastructure, writes that it is solidifying its presence in the heart of Europe’s..
Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..

Related Articles

Jigna Gibb, Bloomberg
Bloomberg Indices has recently hired Jigna Gibb as Head of Commodities and Crypto Index Products, to lead its commodities and...
Robert Minter, director of ETF investment strategy at abrdn takes a look at passive investing in commodities and shares his...
Ryan McCormack, Invesco
This year sees the 25th anniversary of Invesco’s QQQ, the USD240 billion ETF – the fifth largest ETF in the...
ETFs
The European ETF market achieved a record 28 per cent growth – reaching over USD1.8 trillion assets under management (AUM)...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by