Millionaire Investors Stake Their Faith In Bitcoin

Wealthy investors have not lost their faith in cryptocurrencies and intend to stake more money into the market over the next three years, says a new survey.

Two out of three millionaire investors (68%) already hold cryptocurrency or plan to do so before the end of 2022.

The confirmation came from more than 700 investors across 13 countries with £1 million or more available to invest.

Nigel Green, founder and CEO of deVere Group, the leading expat financial advice firm, said: “The research shows that wealthy individuals are increasingly seeking exposure to cryptocurrencies.

“There is growing, universal acceptance that cryptocurrencies are the future of money – and the future is now.  High net worth individuals are not prepared to miss out on this and are rebalancing their investment portfolios towards these digital assets.

Fear of missing out

“Crypto is to money what Amazon was to retail.  Those surveyed clearly will not want to be the last one on the boat.”

Besides the fear of missing out on a bumper investment return (FOMO), Green believes five drivers are powering high-net-worth individuals to take a stake in cryptocurrencies.

“Cryptocurrencies are borderless, making them perfectly suited to an ever globalised world of commerce, trade, and people,” said Green.

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

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

Confidence boost

“Demographics are on the side of cryptocurrencies as younger people are more likely to embrace them than older generations.

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

The deVere CEO’s optimism comes as Bitcoin, the world’s dominant cryptocurrency, has broken through the $8,000 ceiling for the first time in months.

Green believes that having tested the crucial $8,000 price support band, Bitcoin will build confidence for the wider cryptocurrency market.

“Once this confidence is in place, the sky is the limit for cryptocurrencies, which are increasingly accepted by both retail and institutional investors as the future of money,” he said.

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