Wealthy Investors Are Hyped on Bitcoin, Ethereum and XRP, Says Financial Advisory Giant
A new survey from financial consulting firm deVere Group shows 68% of its 700 poll participants are already invested in or will make investments in cryptocurrencies such as Bitcoin, Ethereum and XRP before the end of 2022.
The participants are high-net-worth individuals, with at least £1 million ($1.3 million) in investable assets, reports Telemedia Online. They are located in the Americas, Asia, Europe and Middle-East. Apart from the fear of missing out, there are other factors that are influencing these wealthy individuals who are gravitating towards crypto.
— deVere Group (@deveregroup) May 3, 2019
Nigel Green, founder and chief executive officer of deVere Group says,
“There is growing, universal acceptance that cryptocurrencies are the future of money – and the future is now. High-net-worth individuals are not prepared to miss out on this and are rebalancing their investment portfolios towards these digital assets…
“Once 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.”
Green outlines five major factors boosting interest in crypto assets.
Triggers Behind Surge of Interest
- Cryptocurrencies are borderless
- Cryptocurrencies are digital
- They provide solutions for real-life issues
- Younger people are more likely to embrace cryptocurrencies than older generations
- Institutional investors are moving capital and expertise into the crypto market
Green suggests that Bitcoin’s price will “imminently” test $6,000, saying the new poll reveals a “justified international surge in crypto-optimism.”