According to a recent deVere Group research, the majority of their clients have inquired about adding crypto to their portfolios.
Despite a difficult year for crypto, according to a recent study done by financial advice firm deVere Group, 82% of billionaire customers have considered investing in digital assets such as Bitcoin in 2022.
According to the poll results, which were announced on Jan. 30, eight out of ten of the firm’s high net worth (HNW) clients questioned with between $1.2 million and $6.1 million in investable assets sought guidance on cryptocurrency from financial advisors in the previous year.
Even though the studied demographic is “usually more conservative,” Nigel Green, CEO and founder of deVere Group, feels the interest originates from Bitcoin’s key qualities of being “digital, global, borderless, decentralized, and tamper-proof.”
Previous research from the firm has shown an increase in affluent investors’ interest in crypto assets.
According to a deVere 2020 research, 73% of the 700 polled HNW persons currently own or plan to invest in cryptocurrencies by the end of 2022, while the firm’s 2019 analysis revealed that 68% of worldwide HNW individuals were already invested or planning to invest in crypto by the end of 2022.
Green also sees traditional financial firms like Fidelity, BlackRock, and JPMorgan’s increased interest in providing crypto services to clients as a positive indication for the industry.
In June 2022, PricewaterhouseCoopers (PwC) looked at 89 traditional hedge funds and found that almost one-third of them were already investing in digital assets like Bitcoin.
The CEO of deVere thinks that interest will pick up even more once the “crypto winter” of 2022 ends because of changes in the old financial system.
“Bitcoin is on track for its best January since 2013 because of hopes that inflation has reached its peak, monetary policies have become more friendly, and the various crypto-sector crises, including high-profile bankruptcies, are now in the past.”
“The world’s biggest cryptocurrency has gone up by more than 40% since the beginning of the year,” Green said. “HNW customers and people who want to build wealth for the future will not ignore this.”
HNW people aren’t the only ones who have boosted their crypto holdings in the past year.
According to a JPMorgan Chase analysis released on December 13, 2022, around 13% of the American population, or approximately 43 million people, had handled cryptocurrency at some point in their lives, a rise from 2020, when the proportion was only around 3%.
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