Summary
- It was reported that wealthy individuals in Asia are increasing their investments in gold and cryptocurrencies, moving away from US dollar-based assets.
- Amy Lo, Head of UBS Asia Wealth Management, stated that this asset readjustment is occurring due to increasing geopolitical uncertainties and market volatility.
- Experts explained that Bitcoin is increasingly being regarded as digital gold, contributing to its rising status as a store of value.
An analysis has emerged that wealthy individuals in Asia are increasing their exposure to gold and cryptocurrencies, moving away from US dollar-based assets.
According to Cointelegraph on the 14th (local time), Amy Lo, Head of UBS Asia Wealth Management, stated, "With increasing geopolitical uncertainties and market volatility, high-net-worth individuals are readjusting their assets," and "there has been an increase in exposure to new asset classes such as gold, cryptocurrencies, and commodities, away from US dollar-based assets."
The media added, "The influence of Bitcoin's (BTC) rising status as a store of value," and "many experts have expressed similar views." According to the media, Ian Coleman, a portfolio manager at Galaxy Digital, said, "Bitcoin is increasingly being recognized as a digital gold-like store of value."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
