Rich more bullish on crypto in Indonesia than Singapore, Hong Kong

Study shows close to 40% plan to increase allocation despite downturn in tokens

Regionwide, the survey showed that 83% of high net worth individuals had no crypto investments or less than 5% of their portfolio allocated to the asset class. © Reuters

DYLAN LOH, Nikkei staff writer

September 7, 2022 18:00 JST

SINGAPORE -- The well-heeled in Indonesia appear more bullish on cryptocurrencies, even over their counterparts in the financial hubs of Singapore and Hong Kong, despite the rout of digital tokens this year, a study released on Wednesday shows.

The survey of investment attitudes of 450 high net worth individuals across Singapore, Hong Kong, Japan, Thailand, the Philippines, Indonesia, Taiwan and Australia showed that close to 40% of those polled in Southeast Asia's most populous country planned to increase the weight of digital assets in their portfolio. This contrasts with around 20% in Singapore and Hong Kong.