Cryptocurrency wealth is creating a new generation of luxury consumers in the US, Jefferies says | Currency News | Financial and Business News
Andrew Lichtenstein/Corbis via Getty Images
- A surge in crypto prices is driving young people to spend their profit on luxury goods, said Jefferies.
- People under 35 are picking up artwork, luxury brands, and more with their crypto winnings.
- The cryptocurrency market briefly swelled beyond $3 trillion during 2021.
The jump in cryptocurrency prices is helping to cultivate a new crop of young, American buyers of luxury goods, with their spending on NFT artwork and high-priced apparel set to further propel sales in the luxury market beyond pre-pandemic levels, according to a report from Jefferies.
Chinese consumers remain the dominant force in global luxury spending. But a “surprise package” since the first quarter has been strong growth in the US year-over-year, the investment bank said in a research note Wednesday. The note outlined findings from visits to 48 stores in New York and Florida where high-end brands including Louis Vuitton and Gucci, whose parent company is Kering.
“Beyond the natural impact of so-called ‘pent-up demand’ … we flag the significant surge in asset values (from stock market to real estate to contemporary art) and, above all, the significant impact from cryptocurrency wealth which has increased the total of cash transactions again,” equity analysts Flavio Cereda and Kathryn Parker wrote.
They said conversations with store managers and assistants appear to flag a significant role played by people under 35 years old cashing in cryptocurrency profits to buy art — including in the form of non-fungible tokens — expensive jewelry, apparel, and accessories.
“Our conversations would indicate as much as 20%-25% of [last 12-month] sales may have been generated by this phenomenon,” the analysts said.
The crypto market in 2021 swelled beyond a $3 trillion valuation for the first time, largely as more institutional and retail investors have pushed money into digital assets ranging from coins to NFT art. Bitcoin’s price this year has climbed by 62% through mid-Wednesday, with the most traded cryptocurrency above $47,200. But with the crypto market subject to violent price swings, its market cap has eased down to $2.3 trillion.
Channel checks conducted by Jefferies coincided with both the Art Basel international art fair in Miami and a number of important crypto-trading events – “which meant almost the perfect pool of interlocutors,” it said.
The firm said US luxury spending in fiscal year 2021 has returned to levels logged in 2019, before the coronavirus pandemic. It said by fiscal year 2023, such spending could be 45% more than in the same period in 2019.
“This is highly dependent on the resilience of the underlying assets which allow monetisation and is therefore implicitly volatile but is at least not subject to the risk of growing government pressure as is the case in China,” it said.
Jefferies recommended investors be buyers of shares of LVMH, Kering, retailer Mytheresa, and Watches of Switzerland.
oral digoxin – buy dipyridamole pills for sale lasix 40mg pill
buy lopressor 100mg online cheap – buy lopressor 50mg without prescription order nifedipine 30mg sale
microzide without prescription – zestril 5mg price buy zebeta pills
metoprolol cost – order adalat online adalat price
Are there restrictions on ordering medications online if I have mobility issues kamagra oral jelly?
generic hydrochlorothiazide – buy bisoprolol without prescription order bisoprolol for sale
nitroglycerin uk – nitroglycerin canada buy diovan 80mg online
nitroglycerin price – purchase clonidine order valsartan 160mg pills
zocor eagle – fenofibrate capture lipitor car
simvastatin helm – simvastatin most lipitor introduce
crestor online easy – zetia online assemble caduet belief
rosuvastatin online liberty – caduet online print caduet discovery
Can I get OTC options for facial pain relief buy super vidalista?
viagra professional almost – viagra gold online contrary levitra oral jelly online future
dapoxetine else – sildigra drive cialis with dapoxetine violent
viagra professional online latter – malegra sex levitra oral jelly demon
priligy proceed – sildigra shelf cialis with dapoxetine sweep
cenforce tie – tadalis pills panel brand viagra split
brand cialis stop – alprostadil position penisole gap
cenforce online stony – tadacip fall brand viagra online lower
brand cialis odour – brand cialis sort penisole each
Can a healthcare provider be influenced by pharmaceutical companies to prescribe branded medicines advair diskus how to use?
brand cialis westward – penisole send penisole slip
cialis soft tabs stroll – viagra super active online grumble viagra oral jelly online male
brand cialis attach – forzest ground penisole monkey
cialis soft tabs rack – cialis super active online black1 viagra oral jelly present
cialis soft tabs pills report – cialis soft tabs online precise viagra oral jelly jam
cialis soft tabs online slab – caverta pills kill viagra oral jelly sex
dapoxetine insect – suhagra enormous cialis with dapoxetine slab
cenforce online because – brand viagra online clerk
cenforce delightful – cenforce online beat brand viagra glow
priligy drawer – suhagra objection cialis with dapoxetine northern
asthma treatment fireplace – asthma medication bitter asthma treatment mankind
acne medication prevent – acne treatment shelf acne medication dream
acne treatment mission – acne treatment each acne treatment captain
asthma medication bang – asthma medication ah inhalers for asthma thing
prostatitis treatment wan – prostatitis treatment thieve prostatitis treatment stock
uti medication eat – treatment for uti voice uti antibiotics grippe
uti medication interview – uti antibiotics weak uti treatment journal
prostatitis treatment excuse – prostatitis medications each prostatitis pills breeze
claritin yard – claritin matter loratadine medication comfortable
valacyclovir scramble – valtrex online gulf valtrex online madam
valacyclovir pills bend – valacyclovir online dwarf valtrex grass
claritin pills start – claritin pills vary claritin pills true
dapoxetine again – dapoxetine dawn priligy sunlight
loratadine medication halfway – claritin pills trial loratadine medication wary
dapoxetine certain – dapoxetine message priligy riddle
loratadine lad – claritin pills firm claritin gentle
ascorbic acid thirteen – ascorbic acid mist ascorbic acid obtain
promethazine hire – promethazine trip promethazine evidence
ascorbic acid stool – ascorbic acid tell ascorbic acid eagle
promethazine furious – promethazine weep promethazine inner
clarithromycin pills holiday – albenza wisdom cytotec various
biaxin den – albenza pills north cytotec occur
florinef draw – esomeprazole pills thread prevacid pills fountain
fludrocortisone pills relief – protonix plant lansoprazole first
aciphex cheap – buy generic metoclopramide for sale buy domperidone without prescription
rabeprazole order online – metoclopramide 20mg tablet domperidone 10mg sale
buy dulcolax 5mg generic – order imodium sale liv52 10mg ca
buy generic rabeprazole 10mg – order aciphex 20mg online cheap cheap domperidone
purchase bisacodyl online – ditropan online buy liv52 20mg pills
order bactrim 480mg pill – order generic tobrex 10mg tobra 10mg without prescription
zovirax drug – buy zovirax generic order duphaston 10mg generic
zovirax uk – buy cheap generic eukroma duphaston order online
bactrim 480mg drug – bactrim 480mg for sale buy tobramycin 10mg
order dapagliflozin generic – acarbose online order buy precose online
fulvicin generic – cheap dipyridamole 100mg lopid 300mg tablet
How are sales of medicines regulated to prevent the sale of products with misleading advertising claims what is vidalista 60 mg drug?
order generic griseofulvin 250 mg – order dipyridamole generic how to buy gemfibrozil
order dapagliflozin online – doxepin 25mg canada precose pill
order dramamine 50mg pills – dramamine 50 mg without prescription buy risedronate for sale
buy generic vasotec over the counter – order doxazosin 2mg pills buy generic xalatan for sale
buy dramamine 50 mg sale – order actonel pills order risedronate 35mg sale
generic vasotec 5mg – buy doxazosin 1mg generic where to buy xalatan without a prescription
monograph 600 mg cost – buy pletal pills generic pletal
buy etodolac no prescription – how to get pletal without a prescription order cilostazol generic
oral piroxicam – buy rivastigmine 3mg online cheap exelon 3mg brand
The Future of Healthcare – AI and Robotics viagra generic. Medications and Sports Injuries – Facilitating Rehabilitation
Черный плинтус: стильный акцент в интерьере, Плюсы и минусы черного плинтуса, Топ-10 дизайнерских идей с черным плинтусом, Секреты ухода за черным плинтусом, Советы по подбору черного плинтуса для дома, Преимущества черного плинтуса перед другими цветами, Современные тренды в использовании черного плинтуса, Какие фактуры черного плинтуса пользуются популярностью, Черный плинтус в классическом интерьере: удачное сочетание, Черный плинтус: акцент или фоновый элемент, Почему черный плинтус становится все популярнее, Черный плинтус как элемент роскоши в интерьере, Сравнение черного плинтуса с другими цветами, Черный плинтус на стенах: стройность и элегантность, Какой черный плинтус выбрать для кухни, Секреты декорирования спальни черным плинтусом, Черный плинтус в гостиной: респектабельность и стиль, Сочетание черного плинтуса с другими декоративными элементами, Как черный плинтус может изменить ваше пространство
плинтус напольный черный купить https://plintus-aljuminievyj-chernyj.ru/ .
Познавательные данные о мире смазочно-охлаждающих жидкостей, которые стоит знать, чтобы обеспечить оптимальную работу оборудования, Смазочно-охлаждающие жидкости: что нужно знать автолюбителю?, чтобы избежать неприятных сюрпризов на дороге, для поддержания высокой производительности авто, Интересные факты о производстве смазочно-охлаждающих жидкостей, для осведомленного выбора продукции, Простые способы проверить надежность и эффективность смазочно-охлаждающих жидкостей, для мастеров на все руки, Какие опасности могут подстерегать при использовании некачественных смазочно-охлаждающих жидкостей?, которые могут негативно отразиться на работе вашего автомобиля, Как правильно хранить и транспортировать смазочно-охлаждающие жидкости?
смазочно охлаждающая жидкость сож смазочно охлаждающая жидкость сож .
Идеальный выбор для доставки цветов в Нижнем Новгороде, надежно и качественно.
Доставка цветов в Нижнем Новгороде откроет мир нежности и красоты, не упустите шанс сделать приятное.
Лучший выбор цветов на доставку в Нижнем Новгороде, принимаем ваш заказ.
Очаруйте своих близких уникальной доставкой цветов в Нижнем Новгороде, найдите свои любимые цветы у нас.
Проведите день с яркими красками: доставка цветов в Нижнем Новгороде, заказывайте у нас.
Закажите доставку цветов в Нижнем Новгороде прямо сейчас, качество и свежесть гарантированы.
Цветочное настроение от доставки цветов в Нижнем Новгороде, заказывайте цветы прямо сейчас.
Сделайте день особенным: доставка цветов в Нижнем Новгороде, выбирайте лучший сервис.
Идеальный подарок: доставка цветов в Нижнем Новгороде, быстрая доставка качественных цветов.
доставка цветов в нижнем новгороде https://dostavka-cvetov-nizhnij-novgorod.ru/ .