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When Samsung Securities surveyed its high-net-worth clients about which investment assets they believed would be most effective for wealth growth in the future, only a small fraction, 1.9%, pointed to virtual assets, as reported by South Korean news outlet Newsis. The majority favored domestic and foreign stocks, which garnered a significant 45.4% of the vote. Following this, domestic and foreign bonds were chosen by 18.1% of respondents, and real assets like real estate and gold were also considered favorable, with 16.8% backing these options.Photo by Lukas on PexelsInvestment preferences of high-net-worth clientsThe survey conducted by Samsung Securities involved a select group of 368 participants, each with assets totaling KRW 3 billion ($2.3 million) or more. It focused on their perspectives regarding this year’s stock market trends and their individual investment strategies. This specific demographic provided insights into the investment preferences and outlooks of high-net-worth individuals. In the survey, when these individuals were queried about the methods they’ve used to accumulate their wealth, the most prevalent answer was investment in financial instruments such as stocks and funds, with 35.9% indicating this as their primary method. Business income was the second most common source of wealth, cited by 29.9% of participants. Wage income was also a significant contributor, mentioned by 19.6%. Additionally, gifts and inheritance played a role, accounting for 7.1% of wealth growth. Meanwhile, real estate investments were the least common, with only 6.5% of the respondents identifying it as a key wealth growth strategy. Regarding the optimal timing for stock purchases this year, a notable portion of the investors expressed a preference for the beginning of the year, with many pinpointing the first quarter as the ideal time, as indicated by 51.6% of respondents. This preference was followed by the second quarter, favored by 27.7%, the third quarter at 13.6% and the fourth quarter being least favored with only 7.1%. In terms of promising industries for investment, over half of the respondents, 50.6%, identified artificial intelligence (AI) and semiconductors as the most prospective sectors. These technologies are viewed as pivotal in shaping the future of the tech industry. Following AI and semiconductors, rechargeable batteries, which were the top-performing segment in the previous year, garnered notable interest, with 16.7% of respondents favoring them. The survey identified key figures likely to impact the stock market this year: former U.S. President Trump (30.4%), U.S. Federal Reserve Chair Powell (15.8%), U.S. President Biden (7.1%) and Saudi Prime Minister Mohammed bin Salman (3.3%). Business leaders like Tesla’s Elon Musk (6.0%), OpenAI’s Sam Altman (5.4%) and Novo Nordisk’s Lars Fruergaard Jorgensen (2.4%) were also mentioned for their influence. When asked about the most important issue of the financial market for the new year, 51.1% pointed to “interest rate cuts in major economies” as their top concern. Following this, 15.2% highlighted the outcome of the U.S. presidential election as a significant issue. Additionally, the advancement of new industries such as AI and robotics was flagged as an important topic by 10.3% of those surveyed. Stock market experts’ crypto optimismIn contrast, a 2024 stock market outlook survey by local media outlet Money Today, which polled 225 stock market experts, showed a more optimistic stance towards investing in cryptocurrencies this year. When questioned about their willingness to invest in crypto assets like bitcoin, 20% responded very affirmatively, and an additional 34.2% expressed a similar interest, totaling over half of the respondents showing readiness to invest in cryptocurrencies. Meanwhile, 18.7% were unsure, and 27.1% had negative views, including 16.4% saying “no” and 10.7% opting for “strongly no”. In the newspaper survey, when specifically asked about bitcoin’s future value, 24.9%, the largest group of respondents for this question, predicted that bitcoin’s price would reach or exceed KRW 70 million, the highest estimate provided in the survey’s options. Meanwhile, 17.8% of the experts estimated that the price would range between KRW 60 million and 70 million. 

Study Places Hong Kong as Leader in Crypto ReadinessHong Kong, according to a recent study conducted by Forex Suggest, has emerged as the leading jurisdiction worldwide in terms of its readiness for cryptocurrencies. The study evaluated various factors such as the number of blockchain startups per 100,000 people and the density of crypto ATMs in relation to the population.Photo by Traxer on UnsplashZero capital gains taxThe attractiveness of Hong Kong for investors in the crypto space stems from its advantageous tax policies. The study noted that Hong Kong does not levy capital gains taxes on cryptocurrency, making it an appealing destination for crypto enthusiasts. The United States and Switzerland secured the second and third positions, respectively, in the rankings of the most crypto-ready countries.In recent times, Hong Kong has actively embraced investments from digital asset companies and is poised to implement new regulations for the industry. Effective from June 1, the city’s new rules aim to establish Hong Kong as a global hub for digital assets. These regulations permit licensed cryptocurrency trading platforms to offer services to retail investors while incorporating measures to safeguard individual traders.Global crypto firms are gearing up for that new licensing approach, carving out separate corporate entities in order to meet the regulatory requirements which the Hong Kong regulator, the Securities Futures Commission (SFC), has set. Another Hong Kong regulator, the Hong Kong Monetary Authority (HKMA), is also opening up to embrace digital asset innovation through a pilot project implicating the tokenization of real world assets.Regarding the number of blockchain startups, Hong Kong boasts three startups per 100,000 individuals, securing the second position globally. Topping the list is Switzerland, with an impressive count of 12.9 blockchain startups per 100,000 residents, amounting to a total of 1,128.The study also highlighted that countries such as Hong Kong, Switzerland, Panama, Portugal, Germany, Malaysia, and Turkey impose the lowest taxes on cryptocurrencies. These nations exempt individuals from capital gains taxes on profits derived from cryptocurrency trading.Crypto ATM proliferationWhen considering the prevalence of crypto ATMs, Hong Kong ranks third globally, with two ATMs per 100,000 people, totaling 149 ATMs. The United States takes the top spot with nearly 34,000 crypto ATMs, but when normalized to the population, it has 10.1 ATMs per 100,000 individuals.Regressive measures in USIn contrast to Hong Kong’s favorable environment, regulators in the United States have intensified their efforts to tighten regulations on cryptocurrency exchanges, leading many within the industry to advocate for clearer guidelines. Consequently, several exchanges are exploring jurisdictions that offer more favorable conditions.Forex Suggest emphasized that the report’s findings were based on extensive data analysis, taking into account factors such as tax regulations, legislation, the presence of blockchain startups, and the level of interest in cryptocurrencies. Each jurisdiction received a normalized score out of 10 for each factor, and the overall rankings were determined by averaging these scores.Hong Kong’s position as the most crypto-ready jurisdiction in the world showcases its commitment to fostering innovation and becoming a global leader in the digital asset space. With its advantageous tax policies, growing number of blockchain startups, and forthcoming regulations, the autonomous Chinese territory is solidifying its position as an attractive destination for businesses and investors in the cryptocurrency space.

Gravity Reports Strong Q2 Revenues, Outlining Blockchain Game RoadmapSouth Korean game developer Gravity has disclosed its consolidated financial statements to share its second-quarter performance. During this period, Gravity reported total revenues of $181 million. This represents a 147.5% increase when compared to the same quarter last year. The company also demonstrated a surge in its operating profit, reaching $40 million, which reflects a noteworthy year-on-year increase of 138.3%.Photo by Max DeRoin on PexelsRagnarok Origin driving up revenueThis upswing in revenue can be primarily attributed to the successful launch of Ragnarok Origin, an MMORPG mobile and PC game that debuted in Southeast Asia on April 6, 2023. Another contributor was the introduction of Ragnarok Origin in Taiwan, Hong Kong, and Macau, alongside Ragnarok X: Next Generation’s performance in Korea.Gravity’s reputation as a prominent player in the gaming industry has been solidified through its creation of the popular massively multiplayer online role-playing game (MMORPG) Ragnarok Online. This flagship game draws its inspiration from a series of comics bearing the same name, which weave together elements from Norse mythology.Upcoming release plansLooking ahead, the game publisher has plans to bring a variety of IP-based games to players worldwide. First, Ragnarok V: Returns is gearing up to enter its closed beta test (CBT) phase in South Korea on August 17. Meanwhile, Japanese gamers can anticipate the launch of White Chord, a character-collecting RPG mobile game, set to debut on August 29. This creation comes from the collaborative efforts of Yulong Games, a Chinese mobile game developer, and Gravity Games Alliance (GGA), Gravity’s Japanese subsidiary.Drawing on its remarkable achievement in Southeast Asia, Ragnarok Origin is now gearing up for a forthcoming launch in Central and South America, scheduled for the fourth quarter of this year. Additionally, fans in Vietnam can look forward to the release of Ragnarok M: Eternal Love, an MMORPG mobile game, slated to arrive in 2024.Blockchain initiativesGravity’s ventures into the realm of blockchain technology also deserve attention. In this regard, Ragnarok Landverse, an MMORPG blockchain PC game, is poised to undertake its second round of CBT during the third quarter of this year. The game sets its sights on a broader launch in the latter half of 2023, encompassing regions like Southeast Asia (excluding Thailand and Indonesia), the Middle East, India, Africa, and Oceania.Furthermore, the anticipation mounts for the global launch of Ragnarok Poring Merge NFT, a time-effective RPG blockchain mobile game, projected to make its debut in the fourth quarter of this year. Another captivating prospect is Ragnarok Monster World, a Web3-based RPG blockchain game for both mobile and PC platforms. Developed by Singaporean company Zero X And, known for its expertise in blockchain game and solution development, the game utilizes NFT technology and is earmarked for release in 2024.