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The wealth report shows that customers exposed more to gold than to cryptocurrencies

The wealth report in 2018 from Knight Frank, a global real estate consulting firm, has found that their customers have been exposed to cryptocurrencies the least of all surveyed assets, ranking lower than gold.

13.Mar.18 5:39 AM
By Daria Zaytseva


The wealth report shows that customers exposed more to gold than to cryptocurrencies

The Knight Frank Attitudes Survey shows the percentage of clients who experienced only an increase in exposure to certain assets, which makes cryptocurrencies below gold by 21 percent.

However, in response to the question "How has your customers' impact on the following investments over the last 12 months changed?" the global average impact of cryptocurrencies is 16 percent, while the global average for exposure to gold and bonds is less than 15 percent and 6 percent respectively.

Although Bitcoin (BTC) is sometimes referred to as "digital gold", the World Gold Council sees the main differences between these two assets as the low "daily liquidity" of BTC and the diverse use and application of gold in the jewelry industry, as well as the technical industry and central banks.

The percentage measures the difference between those who reported an increase in exposure and those who reported a decrease.

According to the data, the region with the highest level of cryptocurrencies is Latin America, by 33 percent, which can be explained by the growth of hyperinflation in the Venezuelan economy. This hyperinflation can lead to the "Bitcoinization" of Venezuela, because more Venezuelans turned into crypto, in contrast to the use of Bolivar.

The region with the lowest average increase in susceptibility to cryptocurrencies is Asia at 5 percent. The lack of impact may be due to the crypto prohibitions currently in force in China, such as the ban on domestic exchanges, foreign exchanges, and initial coin offering (ICO). South Korea, which is well known for the high level of cryptocurrencies usage, has also introduced a crypto ban on anonymous trading on cryptocurrency exchanges this year.

The Knight Frank Wealth report also contains an article about the potential of Blockchain for the revolutionization of real estate markets. Countries around the world have already started using Blockchain for real estate.

The welfare report also shows the views of Knight Frank's customers on Blockchain technology, with the majority answer for the global average of respondents as "the doubt that many of my clients have heard about Blockchain." 4 percent as the global average answered: "Blockchain is already having a tangible impact," with Russia and the Commonwealth of Independent States (CIS) associated with North America at 8 percent.

Knight Frank has 370 offices in 55 countries, which occupy more than $ 817 billion worth of properties ranging from commercial and residential to agricultural.

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