Hundreds of millionaires have revealed in a new survey that they have already invested in bitcoin or plan to invest in the cryptocurrency in the coming years.
Millionaires don’t want to miss out on Bitcoin
A new global poll by Devere Group shows that 73% of millionaires will invest in cryptocurrencies, such as bitcoin, ethereum and XRP, before the end of 2022 or are already investing in it. The findings came when the price of bitcoin soared above USD 18,000.
Devere Group is a large independent financial consultancy. The group solicited more than 700 of its high net worth clients – those with more than $ 1 million in investable assets – who currently reside in the US, UK, Asia, Africa, the Middle East, East Asia, Australasia and Latin America .
“Bitcoin’s price is up 125% so far, making it one of the best-performing assets of the year yet again,” said Devere Group founder and CEO Nigel Green, who elaborated:
As the survey shows, this impressive achievement is catching the attention of high net worth investors who increasingly understand that digital currencies are the future of money and that they don’t want to stay in the past.
The group conducted the same survey last year and found that 68% of millionaires would either invest in cryptocurrencies or had already invested in the next few years.
Green explained that he undoubtedly seen high net worth clients surveyed “ that a major driver of the price hike is the growing interest expressed by institutional investors, ” including some of the largest Wall Street banks, “ benefiting from the high returns that the digital asset class currently offers. The CEO of Devere added that further Paypal now offers a cryptocurrency service, which allows customers to buy, sell and hold bitcoin. Recently several famous hedge fund managers including Bill Miller, Stan Druckenmiller, and Paul Tudor Jones, said bitcoin has the potential to outperform gold.
In addition, Green emphasized that investors are drawn to bitcoin as a “legitimate hedge against longer-term inflation problems” because of stimulus packages promised by major governments and central banks worldwide. He detailed:
These emergency measures, like the massive money-printing agenda, lower the value of traditional currencies like the dollar.
Green went further by outlining some attractive features of cryptocurrencies. First, he said, “they are limitless, which makes them a perfect fit for an increasingly globalized world of commerce, trade and people.” Second: “they are digital, which makes them perfectly suited to the increasing digitization of our world.” He also noted that “younger people are more likely to embrace them than older generations.” Devere’s CEO concluded:
Wealthy individuals are unwilling to miss the future of money and are balancing their portfolios with these digital assets.
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