More than two-thirds of high-net-worth individuals will be invested in cryptocurrencies in the next three years, reveals a new global poll. With the rise of Cryptocurrency trading exchanges and apps like Bitcoin Era (), this is a huge possibility.
Carried out by deVere Group, one of the world鈥檚 largest independent financial advisory organisations, the survey shows that 68 per cent of poll participants聽are now already invested in or will make investments in cryptocurrencies, such as Bitcoin, Ethereum and XRP, before the end of 2022.
The 700-plus respondents are clients who currently reside in the U.S., the UK, Australia, the UAE, Japan, Qatar, Switzerland, Mexico, Hong Kong, Spain, France, Germany and South Africa.
High net worth is classified in this context as having more than 拢1m (or equivalent) in investable assets.
Nigel Green, founder and CEO of deVere Group comments: 鈥淭he research shows that wealthy individuals are increasingly seeking exposure to cryptocurrencies.
鈥淭here is growing, universal acceptance that cryptocurrencies are the future of money 鈥� and the future is now.聽 High net worth individuals are not prepared to miss out on this and are rebalancing their investment portfolios towards these digital assets.
鈥淐rypto is to money what Amazon was to retail.聽 Those surveyed clearly will not want to be the last one on the boat.鈥�
Besides FOMO 鈥� the Fear Of Missing Out – Mr Green believes there are five main drivers for high-net-worth individuals鈥� surging interest in cryptocurrencies.
He explains: 鈥淔irst, cryptocurrencies are borderless, making them perfectly suited to an ever globalised world of commerce, trade, and people.
鈥淪econd, they are digital, making them perfectly suited for the increasing digitalization of our world, which is often called the fourth industrial revolution.
鈥淭hird, they provide solutions for real-life issues, including making international remittances more efficient, and help bank the world鈥檚 estimated two billion 鈥榰nbanked’ population.
鈥淔ourth, demographics are on the side of cryptocurrencies as younger people are more likely to embrace them than older generations.
鈥淎nd fifth, institutional investors are coming off the sidelines and moving into cryptocurrencies, bringing their institutional capital and institutional expertise to the crypto market.鈥�
The deVere CEO鈥檚 optimism comes as Bitcoin, the world鈥檚 dominant cryptocurrency, has registered a five-month high on Friday, reinforcing the view put forward by its recent upswing towards bullish territory.
Mr Green recently told the media that he believes that Bitcoin will imminently test the crucial $6,000 price support, building confidence on the wider cryptocurrency market.
He added: 鈥淥nce 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.鈥�
Of the latest HNW survey on cryptocurrency exposure, Nigel Green concluded: 鈥淭he global poll underscores a justified international surge in crypto-optimism.鈥�
