According to a recent survey conducted by Bitwise, a leading cryptocurrency asset management firm, the majority of wealth advisers in the United States have expressed a newfound interest in investing in cryptocurrency following the outcome of the US presidential election in November.

The survey, which polled over 150 financial advisers across the country, revealed that over 50% of respondents are now more open to the idea of including cryptocurrency in their clients’ investment portfolios. This is a significant increase from the previous year, where only 35% of advisers expressed a positive sentiment towards cryptocurrency.

The sudden shift in attitude can be attributed to the recent surge in the value of Bitcoin, the world’s largest and most well-known cryptocurrency. Since the election, Bitcoin has seen a remarkable increase in value, reaching an all-time high of over $40,000 in January 2021. This has caught the attention of many investors, including traditional wealth advisers who were previously skeptical about the legitimacy and potential of cryptocurrency.

The survey also revealed that the top reasons for this change in attitude were the increasing acceptance and adoption of cryptocurrency by mainstream financial institutions, as well as the potential for high returns on investment. With more and more companies and institutions, such as PayPal and Tesla, embracing cryptocurrency, it has become increasingly difficult for wealth advisers to ignore its potential as a viable investment option.

However, despite the growing interest in cryptocurrency, the survey also highlighted some concerns and reservations among wealth advisers. The most common concerns included the volatility and lack of regulation in the cryptocurrency market, as well as the potential for fraud and scams.

Overall, the survey results indicate a significant shift in the perception of cryptocurrency among wealth advisers in the United States. With the increasing acceptance and adoption of cryptocurrency, it is likely that more and more advisers will start incorporating it into their clients’ investment strategies in the future.