P1 Investment Management is a signature sponsor of the UK’s first major Bitcoin Conference in Edinburgh on 21/22 October. The theme of the event is to “educate and inform”. P1 hope to engage and educate financial advisers and investment managers on digital assets and blockchain technology.

Digital Assets & Blockchain

Cryptocurrencies have come under increasing scrutiny from regulators due to their association with scams, speculative trading and volatile price action. Yet the technology that underpins cryptocurrencies, blockchain, is being increasingly used and adopted by global companies. According to research, eighty-one of the world’s top one hundred institutions, from Alphabet and Alibaba to Mastercard and JP Morgan, are now using or looking to use blockchain technology. This month UK financial services titan Abrdn took a majority stake in digital exchange Archax and Blackrock announced a deal with Coinbase to facilitate trading for it’s institutional clients.

In 2021 the FCA’s Study into the UK Cryptocurrency market found that 82% of the UK adults have heard of Bitcoin, and there are now an estimated 2.3million UK holders, three-fifths of which do not see crypto investing as a gamble. Over 40% of digital asset holders earn over £50k, of which 13% earn over £100k, salary ranges that would make them prospective clients to financial advisers. And while the average holding size is £300, the highest reported holding in 2021 was £7m, with 30% of investors seeing digital assets as part of a broader investment portfolio.

P1 are aware that financial advisers are becoming increasingly curious about digital assets. They believe that Bitcoin and other digital assets will become a mainstream asset class, like equities, bonds and traditional commodities, within the decade. A generation of clients will have acquired their wealth through the technology (investing or developing it) and will want financial advisers who understand digital assets and don’t shun it. In addition to the asset class, as a platform provider, they believe blockchain technology will innovate services within the industry; account transfers, share trading and fund trading are just some of the areas where a distributed ledger would lower costs and enhance efficiency. So they have set out on a mission to educate and inform financial advisers and investment managers about Bitcoin and digital assets and explain why it’s too important to ignore.

James Priday, CEO of P1 and speaker at the event, stated,  “Money has evolved, and the internet has changed banking, payment processes, and how we view cash. We believe that people now need to be educated on digital assets and the power blockchain has as a monetary base layer and infrastructure to support the digital age. This won’t happen overnight. But, we are committed to supporting the Bitcoin Collective in their mission in creating new informed individuals within the next few years in the UK. We see our involvement as educating financial advisers and investment managers to this new wave of technology. Even if you view Bitcoin and ‘cryptocurrency’ negatively, we’d encourage you to come along.”

For financial advisers and investment managers interested in the event, get in touch with P1 by emailing digitalassets@p1-im.co.uk for a discount code.