The cryptocurrency shows little movement on Friday after a slight uptick on Thursday. Leading cryptocurrency Bitcoin is trading just above $7400 after hovering there for several days. IOTA is the top gainer in the top 10 having added 4.5% to its value.
Meanwhile more institutional investors are entering the market. DeVere Group has recently added Bitcoin Cash on its platform in what it says is a growing demand from high net worth customers.
“This mainstream expansion is clearly evidenced by the fact that more than a third [35%] of wealthy individuals around the world—who are already likely to be successful investors—are telling us that they already have exposure to crypto or that they will have by the end of this year,” deVere Group CEO Nigel Green said in a statement.
“The survey’s findings demonstrate that high net worth individuals are increasingly unable to ignore the huge potential of cryptocurrencies,” he added.
Soaring global demand
The financial group launched a cryptocurrency app in January in response to “soaring global demand.”
While launching the deVere Crypto app, CEO Nigel green said fintech was fundamentally changing the way we access, manage and use money.
“Nothing has captured the imagination in this new fintech age quite like cryptocurrencies, specifically Bitcoin. No-one was really talking about it back in 2016. But those who invested in Bitcoin before the beginning of last year have enjoyed an impressive price increase, Green said in January.
Cryptocurrencies to go mainstream
“History will teach us that 2017 was the year that digital currencies came into the mainstream,” he added.
“The addition of Bitcoin Cash and EOS to the deVere Crypto app is part of our ongoing commitment to clients. The users of the app are demanding an ever-wider, diversified crypto portfolio as the crypto sector expands and moves even further into the mainstream,” Green said.
“I expect that a broader awareness and understanding of the crypto sector will grow exponentially in the next year as the tech that underpins it further improves, as major corporations and financial institutions embrace it, and as regulation is further developed.”
“All the digital coins on deVere Crypto have different characteristics, strengths and values.
The additions are meant to “achieve portfolio diversification within this specific asset class and their individual traits make them useful in different ways for investors.”
Green expressed his confidence that “cryptocurrencies in some form are the future of money.”