ADVANTAGES AND RISKS OF VIRTUAL ASSETS AS OBJECTS OF PORTFOLIO INVESTMENT
Abstract
The article analyzes the opportunities that the emergence and development of the virtual asset market open up for portfolio investment. New digital investment opportunities are associated with both the benefits of diversifying investment portfolios and obtaining investment income, as well as with significant risks and volatility due to high market uncertainty. In the aggregate of virtual assets, virtual goods are distinguished, which are intangible objects that are purchased by users of social networks and online games; as well as cryptoassets, which are based on blockchain technology. In turn, cryptoassets include cryptocurrencies, virtual tokens (NFTs) and central bank digital currencies (CBDCs) that are built on blockchain technology. domain names. The investment attractiveness of virtual assets is associated with the great potential for price growth, diversification of the investment portfolio, growing demand for virtual financial assets due to the expansion of the sphere of influence of the digital economy, expectations regarding the strengthening of the impact of digital technologies and assets. The risks of portfolio investments in virtual assets are due to fluctuations in their prices, instability and imperfection of regulation, the possibility of fraud and the absence of intrinsic value for most virtual assets. A particularly acute problem is the need to ensure cybersecurity and high environmental costs to support some blockchain networks. The rapid pace of the innovation process on the virtual asset market stimulates the creation of new platform types of companies and business models. A portfolio approach to investing in the era of digital transformations means that the investor allocates investment capital among different virtual assets, expecting different returns from each of them. Various variants of strategies (short, medium and long-term) are used to form an investment portfolio, which should be based on careful independent research of financial markets. In the event of effective risk management and maintaining a balanced structure of the investment portfolio, investors can fully take advantage of investing in the virtual asset market.
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