Millionaires FOMO: 73% will own Bitcoin by 2022, survey

Hundreds of millionaires have revealed in a new survey that they have either already invested in bitcoin or are planning to invest in cryptocurrency over the next couple of years.

Millionaires don’t want to lose Bitcoin

A new global survey 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 them. The results came when the price of bitcoin surpassed $ 18,000.

Devere Group is a large independent financial consulting firm. The group has asked 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, Middle East, East Asia , Australasia and Latin America.

“The price of bitcoin has risen 125% from the beginning of the year, making it once again one of the best performing assets of the year,” commented Nigel Green, founder and CEO of Devere Group, elaborating:

As the survey shows, this impressive performance is attracting the attention of wealthy investors who increasingly understand that digital currencies are the future of money and don’t want to be left in the past.

The group conducted the same survey last year and found that 68% of millionaires would have invested in cryptocurrencies in the next two years or have already invested.

Green said he had no doubts that high net worth clients surveyed “saw that one of the main drivers of the price increase is the growing interest expressed by institutional investors”, including some of the largest Wall Street banks, ” who are capitalizing on the high returns that the digital asset class currently offers. ” Devere’s CEO further added that Paypal now offers a cryptocurrency service, allowing customers to buy, sell and hold bitcoins. Recently, several well-known hedge fund managers, including Bill Miller, Stan Druckenmiller and Paul Tudor Jones, have argued that bitcoin has the potential to outperform gold.

In addition, Green stressed that investors are drawn to bitcoin as a “legitimate hedge against long-term inflation concerns” due to the stimulus packages promised by major governments and central banks around the world. He detailed:

These emergency measures, such as the massive money printing agenda, reduce the value of traditional currencies such as the dollar.

Green went on to outline a number of interesting features of cryptocurrencies. First, he said, “they are borderless, which makes them perfectly suited to an increasingly globalized world of commerce, commerce and people.” Second, “they are digital, which makes them perfectly suited to the growing digitalization of our world.” He also noted that “younger people are more likely to welcome them than older generations”. Devere’s CEO concluded:

People with high net worth are not willing to lose the future of money and are rebalancing their wallets towards these digital assets.

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