Hong Kong Gaming Firm Converts $49M in Ether to Bitcoin
Following its latest acquisition, Boyaa Interactive now holds 3,183 Bitcoin, an increase from the 2,635 it owned at the end of September.
According to recent data, a significant portion of investors in emerging markets are looking to add cryptocurrency to their investment portfolio. Research firm Toluna surveyed people from 17 countries around the globe to explore whether cryptocurrency investment is on a positive trend.
The data from the survey shows that 61% of the respondents were aware of cryptocurrency as a concept, but only 23% understood that it is an alternative asset class. Even though Bitcoin was launched over a decade ago, the industry is still nascent and many investors across the globe are waiting to see what happens with the market. There is also still a level of technical nuances that might be putting investors off. As noted by Toluna, there might be a difference in knowledge of crypto and investment in crypto because of the complexity “that’s not easily understood.”
According to the results, a massive 75% of investors in Asia-Pacific and Latin American regions are hoping to gain more exposure to cryptocurrency investment. Emerging markets seem to attract more investors in the crypto space, in contrast to already established markets. As per the report:
“In fact, 75% of investors in emerging markets expect to increase their cryptocurrency investment allocations, compared to 57% in developed markets.”
More investors in emerging markets see cryptocurrency as a sustainable trading and investment opportunity, with long-term growth as a trend. Toluna’s research shows that 32% of investors in emerging markets put their trust in crypto as an alternative asset, while only 14% of investors in developed markets say the same. Additionally, more investors already exist in emerging markets. 41% of users in emerging markets say that they have cryptocurrency investment. In comparison, only 22% of investors say the same in developed markets.
This is not the first data that indicates that cryptocurrency is catered to emerging markets. As a hedge against high inflation rates, a tool for remittance payments, and an opportunity to invest in a new asset, investors in emerging markets seem to have more risk appetite for the digital currencies industry. The research found that 25% of investors in emerging markets perceive cryptocurrency as too risky as asset to invest in, while a much more significant 42% in developed markets saw the market as too risky.
Data from Statistica last year September indicated that the top countries that were leading the adoption of cryptocurrency investors were in emerging markets, including Nigeria, Vietnam and the Philippines. Additionally, high trading volume was found in emerging markets. The United States, currently, leads the charge in cryptocurrency volumes and tokens moving hands.
The data shows that Bitcoin and cryptocurrency assets are more appealing to younger investors, particularly so in the emerging markets. With older investors in the space, there seems to be less trust in the technology-based asset. As per the results, 42% of investors in Generation Z (between 18-24 years) the emerging markets are invested in cryptocurrency, with 38% of Generation Z in developed markets investing. 44% of Millennial (between 25-34 years) investors in emerging markets are invested in digital assets, while 37% of those in developing markets say the same. And only 21% of Baby Boomers (between 57-64 years) in underdeveloped markets are either invested in cryptocurrency or plan to invest in cryptocurrency within the next year. In comparison, only 18% of Baby Boomers in developed countries plan to invest in cryptocurrency.
Following its latest acquisition, Boyaa Interactive now holds 3,183 Bitcoin, an increase from the 2,635 it owned at the end of September.
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