• A recent survey from financial advisory firm deVere Group showed that 82% of millionaires with investable assets between £1 million and £5 million sought advice on cryptocurrencies over the last 12 months.
• This comes despite the bear market in 2022 and suggests that even traditionally conservative investors understand the potential of digital currency investments.
• Wall Street giants like JPMorgan and Fidelity are beginning to offer crypto-related services to their clients, indicating increasing institutional interest in cryptocurrencies.
High Net Worth Investors Are Ready To Take The Crypto Plunge
Millionaires across the globe are showing increased interest in cryptocurrencies according to a recent survey from financial advisory firm deVere Group. The study revealed that 82% of high net worth individuals (HNWs) with investable assets between £1 million and £5 million (USD $1.23 million and $6.16 million) sought advice on cryptos over the last 12 months, suggesting even traditionally conservative investors understand the potential of digital currencies.
Findings of the deVere Group Crypto Study
The deVere Group survey included 560 affluent individuals across Europe, North America, Asia-Pacific, Africa, and South America. Nigel Green, founder and CEO of deVere Group said: „Bitcoin is on track for its best January since 2013 based on hopes that inflation has peaked, monetary policies become more favourable, and the various crypto-sector crises, including high-profile bankruptcies, are now in the rear-view mirror.“ He went on to say that “the world’s largest cryptocurrency is up over 40% since the turn of the year,“ which will not go unnoticed by wealthy clients looking to build wealth for the future.
The Influence Of Institutional Investors
The rising interest among HNWs may be closely linked to an increasing number of institutional investors entering into crypto markets. Wall Street giants like JPMorgan Chase have created their own JPM coin which can be used for cross-border transactions; meanwhile Fidelity Investments offers crypto related services for its clients – all indicating a growing acceptance within traditional finance industries.
A PwC analysis from June 2022 also discovered that approximately one third or 33% percent of institutional investors had already invested in cryptocurrencies or were planning to do so this year – further confirming institutional demand for digital currency investments was rising significantly at this time..
Factors Impacting Crypto Market Performance
Several factors have contributed to Bitcoin’s strong performance as well as other cryptos during 2021/2022 such as investor confidence returning following a series of scandals involving large exchanges – as well as improved regulatory clarity around cryptocurrency offerings worldwide.. Additionally global stimulus packages due to COVID 19 continue to drive interest away from traditional investments towards digital currencies offering potentially higher returns but also greater risk exposure due to volatility..
Conclusion
The results of this survey reveal growing awareness among wealthy individuals regarding lucrative opportunities available through investing in digital currencies such as Bitcoin – indicating there may be greater adoption rates within this demographic in years ahead.. With institutions continuing their involvement within crypto markets along with regulators creating clearer frameworks it appears likely these trends will only accelerate – providing both promising prospects for those who seek it out but also potentially risky exposures depending upon individual risk profiles & levels of experience..