According to a survey conducted by asset management firm Devere Group, 82% of millionaires have asked their financial advisors to include cryptocurrencies such as bitcoin in their portfolios, despite the crypto winter. “Wealthy investors understand that digital currencies are the future of money and they don’t want to stay in the past,” said the CEO of the company.
High-Net-Worth Investors Ready to Take Advantage of the Upcoming Crypto Bull Run, Claims Devere
The crypto survey was released by Devere Group, a global asset management and financial advisory firm with $12Billion in assets under management (AUM) globally. The survey uncovered that 82% of their millionaire clients with $1 million to $5 million worth of investable assets sought advice on how to make money on cryptocurrency. The asset management firm provided more details.
In excess of 10 people out of the high-net-worth (HNW) individuals asked their financial advisors to discuss cryptocurrencies such as bitcoin in their portfolios in the past 12 months, regardless of the market’s performance in the same duration.
“In 2022, the crypto market had its worst performance since 2018, with bitcoin, the market leader grabbing the headlines, dropping around 75% over the year,” said Devere Group Chief executive Nigel Green. The reason why the cryptocurrency value dropped was due to investors who reduced exposure to risky assets, including stocks and cryptocurrencies, due to heightened inflation worries and slower economic growth.
However, the manager noted that despite the crypto winter, traders who have high-net-worth were “consistently seeking advice from their financial advisors on including digital currencies in their portfolios.” Green highlighted: “Interestingly, this normally more conservative group was not deterred by the bear markets and hostile market conditions. Instead they were looking to increase their public exposure to cryptocurrency and to join the party.”
The Devere executive stated:
This demonstrates that these high-net-worth prospects have become more aware of the inherent qualities of cryptocurrencies such as bitcoin, which has the core values of being digital, global, borderless, decentralized, and tamper-proof.
“Wealthy investors understand that digital currencies are the future of money and they don’t want to stay in the past,” he added.
“Bitcoin is on track for its best January since 2013 based on hopes that inflation has peaked, monetary policies become more favorable, and the various crises in the crypto sector, including high-profile bankruptcies, are now in the rear-view mirror,” Green continued.The Devere executive noted that BTC is up 40% in the past year. He stated that cryptocurrency performance “won’t go unnoticed” by high-net-worth investors “and others who want to build wealth for the future.” He concluded:
If HNWs showed such interest in the bear market of 2022, they will be among the first to capitalize on the next bull run.
Green and Devere Group surveyees are not the only bitcoin optimists. The recent survey was conducted by Nickel Digital Asset Management. It was discovered that institutional investors predict a “strong year for bitcoin.” A majority of institutional traders polled agreed that BTC may reach $100,000.
A separate survey by Bitwise and Vettafi also discovered that “financial advisors remain highly engaged with crypto markets, with 15% allocating client accounts and 90% receiving incoming client questions about the space.” Last month, global investment bank Goldman Sachs ranked bitcoin as the top-performing asset in 2021.
Are Are you one of the millionaires who are looking to invest in cryptocurrency? Let Let us know in the comments section.
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.