Crypto remains popular amongst Singaporeans post-crash: research
More than five in 10 have invested in crypto in the last two years.
Even after its crash, cryptocurrency remained popular amongst Singaporeans, becoming the second most invested asset class (34%), behind stocks (39%).
According to research by BBH Singapore, 17% of inventors lost so much during the crash that it had “seriously impacted their lives,” whilst there were 30% who were unaffected by what occurred.
Whilst there were 31% who felt misled about crypto investment post-crash, there were still Singaporeans (28%) who placed over half of their investments in crypto, whilst 14% had redirected more than 75% of their portfolio into the asset class.
About 65% will also continue to invest in the asset class over the next three months, and this is likely because they believe that the asset class is the future of money (54%) and that its value will increase over time (56%).
The study added that the number of Singaporeans who are unaware of the risks that come with crypto investment also dropped by half.