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When it comes to the adoption of cryptography, we have repeatedly heard how much space there is to run.
If you had a liquor opportunity every time someone said “early entries” at a cryptography conference, you would have trouble walking a straight line from there. The need for “more education” is another phrase that we listen to Nauseam.
But a recent Coinshares Survey of Financial Advisors confirmed some of this, with details. We referred to a statistic in yesterday’s edition (79% say that their role is changing to risk management as customers invest in cryptography on their own).
There are some more worth pointing. The CEO of Coinshares, Jean-Marie Mognetti, said that it was more surprised by a belief of 62% of the advisors: recommending Bitcoin does not align with her obligation to act in the best interest of her clients.
“This highlights a significant perception gap between regulatory approval, customer demand and fiduciary concerns of advisors,” he told me.
Then there were 55% who said that recommending digital assets would damage their reputation with their colleagues. This, Mognetti explained, “underlines the cultural and institutional barriers that still exist within traditional financial circles.”
Not long ago that the CIO Bitwise Matt Hougan argued Trump’s electoral victory and a pro -pto Congress “eliminates the last vestige of the risk of reputation of cryptography.”
Apparently, not everyone feels like this, even with 85% of the advisors that Coinshares surveyed saying the feeling of their organization towards cryptography (and how they are advising customers) changed from the elections.
Another fascinating finding: it is more likely that the advisors of the Z and millennial generation think that recommending speculative assets do not align with their fiduciary duty, and say that “threats exceed innovation.”
While this younger demographic group is often more open to digital assets, they also seem to face “a stronger resistance of the most established norms and colleagues,” said Mognetti.
Returning to the education point: although 71% say that their company is educating them in cryptography, 84% is likely to pay for such education (mainly through courses and online conferences).
In addition, 43% of the advisors cite cryptographic platforms that publish biased information as a barrier. Then, maybe read the guide forward.
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