New Global Poll Reveals High-Net-Worth Individuals Are Flocking to Crypto

New Global Poll Reveals High-Net-Worth Individuals Are Flocking to Crypto



New Global Poll Reveals High-Net-Worth Individuals Are Flocking to Crypto

A new survey by global financial advisory service deVere Group revealed that over two-thirds of high-net-worth individuals – having investable assets in the excess of EUR 1 million or its equivalent – will invest in cryptocurrencies over the next three years.

In fact, the survey shows that 68 percent of poll participants are already invested or will join those invested in Bitcoin and other cryptocurrencies by the end of 2022. The 700-plus respondents reside in the US, the UK, Australia, the UAE, Japan, Qatar, Switzerland, Mexico, Hong Kong, Spain, France, Germany, and South Africa.

Nigel Green, deVere’s CEO sees five major factors driving the current interest among high net worth individuals and high earners with assets above USD 1 million. He suggested that:

“There is growing, universal acceptance that cryptocurrencies are the future of money.”

He further implied that those with money are unlikely to want to miss out on the financial benefits this may bring, and are restructuring their investment portfolios to prepare for this. He explains his five factors as:

“First, cryptocurrencies are borderless, making them perfectly suited to an ever globalized world of commerce, trade, and people.”

“Second, they are digital, making them perfectly suited for the increasing digitalization of our world, which is often called the fourth industrial revolution.”

“Third, they provide solutions for real-life issues, including making international remittances more efficient, and help bank the world’s estimated two billion ‘unbanked’ population.”

“Fourth, demographics are on the side of cryptocurrencies as younger people are more likely to embrace them than older generations.”

“And fifth, institutional investors are coming off the sidelines and moving into cryptocurrencies, bringing their institutional capital and institutional expertise to the crypto market.”

With Bitcoin testing a USD 6,000 price support, building confidence on the wider cryptocurrency market, Green maintains this is helping rebuild confidence into the whole cryptocurrency market.

Mr. Green recently told the media that he believes that Bitcoin will imminently test the crucial USD 6,000 price support.

 

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