If you happened to invest in Bitcoin in the first months of 2017, then you may have already earned a great amount of money from your investment. Even if you didn’t cash out during its peak in mid-December, an investor could still get some profits at this point if the investment was made during the early part of 2017.
Though Bitcoin isn’t looking good lately and has lost half its value since the start of the year, rich individuals are still enthusiastic when it comes to cryptos. In fact, 29% of millionaires express a high degree of interest in either buying or holding cryptos.
According to the Cagemini poll, High net worth individuals with at least $1 million to invest excluding their homes and cars have experienced investment returns of above 20% in 2017 for the second year in a row.
Not Enough Information on Cryptos
The crypto market is relatively new. And because of this, only around a third of interested millionaires said that they received information about cryptos from their wealth managers. According to the poll, “Although regulatory uncertainty and firm caution have prevented cryptocurrencies from penetrating the wealth management industry, the strong demand for information on cryptocurrencies from younger HNWIs is likely to force wealth management firms to at least develop and offer a point of view during the months ahead”.
Finance Education and Crypto
In terms of having a full understanding of what cryptos and blockchain technology offer, a lot of people have invested in cryptos simply because of hype. And because it is becoming popular, there are now schools discussing cryptocurrencies while some universities are even offering courses apt for the industry.
Though UK department of education says no to the idea that crypto discussions should be included in UK school curriculum, there are schools in the US that are now discussing the subject matter.
However, the department for education spokesman mentioned that there are some things that they have included that could potentially make students find an interest in the blockchain industry. “We have introduced a rigorous new mathematics curriculum and made financial literacy compulsory for 11 to 16-year-olds. In addition, our new computing curriculum ensures pupils will have the broader knowledge and skills they need to go on to specialize in cutting edge technologies and become actively involved in using and creating their own digital technology”.
The CEO of Mandala Exchange mentioned that there should also be an emphasis on coding in the school system. “With the current push towards integrating the fundamental programming languages into school systems, blockchain should become a complimentary area of study with the possibility to major in it or specialize”.
There is a chance that the crypto market is going to experience yet another bull-run. With the impending involvement of institutional investors, it isn’t actually surprising why many rich investors are looking for more information regarding this subject matter. And also, there are businesses that are now working together with regulators in order to obtain their license such as that of Coinbase that is also trying to enter the Japanese crypto market.