Crypto Biz: Wealthy investors are buying crypto, but their advisers aren’t sold

Affluent investors appear increasingly comfortable with crypto, even if their financial advisers aren’t keeping pace. A new CoinShares survey found that a majority of wealthy investors across seven major economies already own digital assets, with many planning to increase their exposure this year.The findings come as capital continues to move into crypto in other ways, even against a tougher market backdrop. Bitcoin is trying to build on its best quarter since 2017 while Treasury yields remain above 5%, and OKX has raised additional funding at a $25 billion valuation.Meanwhile, Strategy is putting more capital into its preferred stock. The company spent more than six times as much buying back STRC shares last week as it did buying Bitcoin.Bitcoin’s rally runs into a 5% Treasury marketBitcoin is coming off its best third quarter since 2017, but extending the rally could prove difficult as Treasury yields above 5% give investors an increasingly attractive alternative to risk assets, according to Delphi Digital.Delphi pointed to Bitcoin’s 43% third-quarter gain and third consecutive weekly advance, but warned that “the grind higher is happening against real resistance.” This resistanc...