World Wealth Report 2018: Young Millionaires Interested in Investing in Cryptocurrencies

In its World Wealth Report 2018, consulting firm Capgemini identified a marked growth of interest in cryptocurrencies among rich investors, Cointelegraph auf Deutsch reported yesterday, June 19.For the report, Capgemini interviewed high-net-worth individuals and asset managers around the world about their interest in cryptocurrencies.

According to the report, nearly a third of the surveyed millionaires expressed a high interest and more than a quarter a general interest.

The potential of cryptocurrencies to generate investment returns and store value is a driving interest among HNWIs.

More than 70 percent of respondents aged 40 and under attach great importance to having their primary asset managers provide cryptocurrency information, compared with just 13 percent of over-60s.So far asset managers are still cautious about cryptocurrency and are reluctant to broach the subject with clients.

The report notes regional differences in millionaires' views on crypto investments.

While interest in Europe, North America, and Japan is relatively modest, 60 percent of HNWIs from South America show a high level of interest.

Increased client interest in cryptocurrencies has driven some firms in the financial sector to take a friendlier stance toward digital assets.

In 2014, the investment bank said Bitcoin was not a currency and was too risky for investors while in May of this year, the firm announced that they would explore trading cryptocurrencies due to increased client interest.

Today, Goldman Sachs COO David Solomon said that the company is already assisting clients in publicly-traded crypto derivatives such as Bitcoin futures, and that the company is cautiously exploring other forms of crypto derivatives.

"We're listening to our clients and trying to help our clients as they're exploring those things too."