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- Cryptocurrency demand in UAE is observed growing tremendously
- Every one in four UAE residents is considering cryptos as an exciting investment opportunity
- 45% of the respondents of the survey are observed interested to learn more about the assets before investment
- Holborn Assets have plans to establish local programs and deliver education regarding digital assets
Cryptocurrency like Bitcoin, Ethereum, and others have seen mainstream attention in recent months. Following the demand for such currencies, several governments have taken their stance by imposing bans or embracing the currency. Recently, a Holborn Assets-sponsored YouGov survey revealed that the demand for such digital assets is robust in the UAE. Specifically, it is observed that every one in four of more than 1k respondents considers digital assets as an exciting investment opportunity. On the other side, 45% of the respondents are keen to learn more before investing in crypto assets.
What does the survey reveal?
Following the different responses in the survey, it seems the answers are particularly noteworthy. Indeed, respondents among the age group 18-24 are observed more bullish on cryptocurrency. Moreover, among the youngest age group, only 10% of them deemed cryptos need heavy regulations. However, 12% of the young residents also have considered that digital assets are a fad.
Simultaneously, some striking trends in terms of nationality have also been observed. In terms of nationalism, Emiratis are observed to be more eager to invest in crypto assets. 33% of Emirates are enthusiastic, only 23% of Arab, 23% of Asian, and 19% Westerners are eager.
UAE shows apparent growing demand for cryptocurrency
Among the respondents of the survey, 44% deemed that they would feel comfortable while allocating more than 5% of their crypto portfolio.
Following the scenario, Stefan Terry, Global Senior Partner in the UAE office of Holborn Assets, stated that there is a clearly growing demand for digital assets in the region. Moreover, he highlighted that cryptocurrency could potentially offer returns to investors.
UAE residents want to learn more about digital assets
Following the survey result, Terry mentioned that the results show a strong interest locally in more education about cryptos. The residents want to learn more about cryptocurrency as a precursor for making portfolio allocations.
Following the scenario in the region, Holborn Assets planned to create local programmes to deliver education. The programme will leverage demand in the country and build on the efforts in the firm’s South African office. It is also known that the South African office of the firm is hosting some events in the coming weeks to educate investors regarding the pros and cons of digital assets.
