The survey, carried out by deVere Group, one of the world’s largest independent financial advisory organisations, finds that 73% of poll participants are now already invested in or will make investments in digital currencies, such as Bitcoin, Ethereum and XRP, before the end of 2022, as per the report shared with Finbold.com. The findings come as the price of Bitcoin rallied to $18,000 inching to the $19,763 all-time high reached in December 2017. The surge took the leading cryptocurrency’s total market capitalisation to over $336 billion, more than its $335 billion previous record, according to coinmarketcap.com.
High net worth respondents have their say on crypto
The 700-plus respondents are clients who currently reside in North America, the UK, Asia, Africa, the Middle East, East Asia, Australasia and Latin America. ‘High net worth’ is classified in this context as having a more than £1m (or equivalent) in investable assets. Of the survey, deVere Group CEO and founder, Nigel Green, who launched the pioneering deVere Crypto app in 2018, noted that the price of Bitcoin is up 125% year-to-date, making it once again one of the best-performing assets of the year. On the survey results he expressed: Nigel Green has underlined, that hight net worth investors – including some of the biggest Wall Street banks amongst others – are now aware that the world’s biggest and most influential decentralised currency isn’t going anywhere. Mr Green goes on to add: In addition, the deVere CEO says that investors are being attracted to bullish Bitcoin as it is a “legitimate hedge against longer-term inflation concerns which have come to the fore due to stimulus packages” – more of which are promised by major governments and central banks around the world. According to the deVere Group CEO, these emergency measures, like the massive money-printing agenda, reduce the value of traditional currencies like the dollar. He said: Mr Green concludes: “High net worth individuals are not prepared to miss out on the future of money and are rebalancing their portfolios towards these digital assets.”
