Public confidence in cryptocurrencies continued to shrink in Singapore, particularly after 2022's unexpected series of blow-ups that landed many prominent firms based here in bankruptcy and wiped out billions of investors' money.
Despite this, more than four in 10 people polled in a survey, or 44 per cent, said that at least a tenth of their investment portfolios consisted of crypto, showing that interest in the volatile digital asset market has not waned, or that investors may be reluctant to sell at a loss.
The poll of 1,500 people also found that crypto ownership in 2023 rose to 43 per cent, from 40 per cent in 2022.
Singapore scored 55 out of 100 in confidence level, lower than the score of 61 in 2022 and 63 in 2021, the Independent Reserve Cryptocurrency Index found.
This showed that respondents' confidence in crypto was hit due to the difficult year the industry had in 2022.
This story is from the March 30, 2023 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 30, 2023 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Brother of Indonesian President-elect builds tin-processing plant in Batam
His target market includes electronics makers that have moved from China to S-E Asia
'A VERY PROUD MOMENT'
Schooling, Yip among 21 legends inducted in Singapore Aquatics’ inaugural Hall Of Fame
CITY WANT ONLY TO DEFEAT FULHAM
Guardiola says that’s their lone concern, not whether United beat title-rivals Arsenal
SHAWAL'S FORM POSES ATTACKING DILEMMA
Pacey forward shines in Sailors’ 4-1 win over Hougang, as new striker gets ready to join
IT'S PEREIRA'S CROWNING GLORY
Sprint queen’s crazy’ season rewarded with The Straits Times Athlete of the Year 2023
MAGNUSSON OVERCOMES HEALTH ISSUES
Swede, hit by gluten intolerance in 2023, stays in the hunt at Aramco Team Series
BURRIDGE SQUAD ON POINT
Kranji Mile trio Street Of Dreams, Invincible Tycoon, Cavalry ready, Ghalib on undercard
Younger S'poreans understand importance of Chinese language
Today's Singaporeans understand the importance of the Chinese language, and want to ensure that the next generation of Singaporeans have a good grasp of their mother tongue, said Prime Minister Lee Hsien Loong.
Great Eastern shares soar after OCBC makes $1.4b buyout offer
Bid at 25.60 per share is above May 9 market close, below embedded value
Duelling major shareholders share plans to tackle Cordlife's troubles
Move comes after SGX asks for clarity on how company will resolve current issues