Malaysian investors trust in Bitcoin (BTC) and other cryptocurrencies

Thu 11 Nov 2021 ▪ 13h23 ▪ 2 min read — by Susan McCormack

Malaysian investors see the potential of using Bitcoin (BTC) and other cryptocurrencies as a means of accumulating wealth and preserving their value.

What does Malaysia think of crypto?

Bernama reports that Luno Malaysia Country Manager Aaron Tang has called crypto a special technology that inspires people to change their views on how to use money. Tang believes that due to the open and transparent structure of Bitcoin it might become a tool for improving the global financial system.

“It makes money more useful and helps to keep its value, providing a hedge against rising inflation and currency devaluation. It is also considered by many to be the payment system of the future and such factors have helped support Bitcoin as a viable alternative investment vehicle that the everyday retail investors can easily gain access to,” the Luno Malaysia Country Manager stated.

Tang appealed to the study conducted in August 2021, which showed that 62% of investors would consider investing in cryptographic assets, as they saw them as a way to diversify their portfolios. About 37% of 1015 respondents showed interest to purchasing cryptocurrencies for long-term investment purposes.

Tang notes that BTC is yet to reach anything like mass adoption, but he is sure the coin will get there.

Just a few years ago, crypto enthusiasts could only dream about digital assets being adopted worldwide. Although we are not there yet, by 2021 cryptocurrencies have become an integral part of the modern society. The interest to crypto is growing, which testifies to the high degree of the crypto market’s maturity.

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Susan McCormack

How many crypto nerds does it take to fork an altcoin? I may be a failed comedian, but crypto is no joke! I want to share my knowledge and help others to see the bright future ahead. #buybitcoin

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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