Millionaires flock to crypto: 82% sought investment advice in 2022

Despite a difficult year for crypto, 82% of millionaire customers had actually looked into investing in digital properties such as Bitcoin (BTC) in 2022, according to a recent survey conducted by financial advisory firm deVere Group.

The poll results, released on Jan. 30, discovered that eight out of 10 of the firm’s high net worth (HNW) clients surveyed with between $1.2 million and $6.1 million of investable properties sought advice on crypto from monetary advisors in the last 12 months.

82% of millionaires consult on crypto as Bitcoin soars#PressRelease
https://t.co/nv6HSZBxEs!.?.!— deVere Group(@deveregroup)January 30, 2023 Nigel Green, the CEO and creator of deVere Group stated that in spite of the surveyed group being”typically more conservative,” he thinks the interest stems from Bitcoin’s core worths of being” digital, global, borderless, decentralised and tamper-proof.”Previous years’studies from the firm have revealed a pattern of increasing interest in crypto financial investments from wealthy investors.A 2020 research study from deVere discovered that 73%of the

700 surveyed HNW individuals either already owned or were wanting to invest in cryptocurrencies before the end of 2022, while the company’s 2019 study discovered that 68 %of international HNW individuals were already invested or preparing to invest in crypto by the end of 2022. Green also notes the uptake in interest in using crypto services to clients by legacy banks like Fidelity, BlackRock, and JPMorgan as an excellent sign for the industry. Related:’Tremendous time’to begin a blockchain company, says Pantera general partner A June 2022 report from PricewaterhouseCoopers, or PwC found roughly one-third of the 89 standard hedge funds surveyed were already investing in digital properties such as BTC. The deVere CEO believes this momentum of interest could build further as the” crypto winter season”of 2022 thaws in the wake of changing conditions in the conventional financial system.”Bitcoin is on track for its finest January because 2013 based upon hopes that inflation has actually peaked, monetary policies end up being more beneficial, and the different crypto-sector crises, consisting of high-profile personal bankruptcies, are

now in the rear-view mirror.” “The world’s biggest cryptocurrency is up over 40%since the turn of the year, and this will not go unnoticed by HNW clients and others who want to develop wealth for the future,”Green included. HNW people are not the only ones who have actually increased their crypto holdings over the last year.According to a Dec. 13, 2022 report from JPMorgan Chase, around 13%of the American population, approximately 43 million people, have held cryptocurrency eventually in their lives, an increase from 2020, when the figure was

only around 3%.