Bitwise Asset Management has released a study showing that financial advisors are more optimistic about the future at Bitcoin. However, it revealed that many hesitate to invest in cryptocurrencies because of regulatory uncertainties.
The survey of 415 consultants in December 2019 showed that 6% of respondents invest their clients’ funds in cryptocurrencies, and 7% expressed interest in investing in the middle of this year. However, 55% said that they will probably or definitely will not invest in crypto stocks. And 38% said they don’t know what they will do this year.
The reason for these uncertainties is related to the regulation of cryptocurrencies. Of those surveyed, 58% said better regulation would make consultants more “comfortable” in investing, or increasing their investments in cryptocurrencies.
According to the report, this is an important finding, as many market analysts say other factors such as high volatility of cryptocurrency are the most important impediments to currency adoption.