73% of Millionaires Own or Want to Invest in Cryptocurrency, According to Survey

A survey conducted by the financial advisory organization, the deVere Group, has found that almost 73% of millionaires either already own or plan to invest in cryptocurrencies before the end of 2022. The survey involved more than 700 high net worth (HNW) individuals who had an income of more than £1 million, which is approximately $ 1.32 million USD. The respondents were selected from diverse regions including Asia, Africa, the Middle East, Australia, Latin America, the US and the UK.

It is interesting to note that last year, a similar survey by the deVere Group revealed that 68% of high net worth individuals had already invested in or had been planning to invest in cryptocurrencies by the end of 2022. Therefore, an increase of 5% has been observed in a year, possibly indicating an increase in crypto-optimism amongst millionaries as well.

The finding comes at a time when Bitcoin (BTC)  has just surged past the $18,000 mark. Nigel Green, the CEO and founder of the Dubai-based deVere Group has also noted that Bitcoin had yet again been the best-performing asset this year. He also mentioned:

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

Moreover, Green added that some of the biggest Wall Street banks were amongst the respondents eying Bitcoin and they attributed this warming sentiment to the adoption of crypto by major firms like Square and PayPal.

Jamie Dimon, Chairman and CEO of JP Morgan Chase had criticised Bitcoin back in 2017 but in a recent New York Times Conference has said that he is a ‘believer’ in blockchain technology as well as ‘properly backed, properly regulated’ cryptocurrencies.

While some still have their doubts about Bitcoin and other cryptocurrencies, the increasing enthusiasm around investing in them, particularly amongst millionaires is also obvious. With Bitcoin’s recent 150% jump, Bitcoin is closer than ever to its record high of 2017 and has yet again seized the spotlight as more investors are looking to delve into cryptocurrencies.