A recently conducted survey has shown that more than two-thirds of high-net-worth individuals plan to be invested in cryptocurrencies until 2022. In the survey’s context, a high-net-worth individual was considered one with over £1 million ($1.3 million) worth of investable assets.
The survey, conducted by the Dubai-based deVere Group, an independent financial advisory organization, polled over 700 of the firm’s clients who reside in various countries, including the U.S., the U.K., Australia, Qatar, Switzerland, Spain, and Germany.
According to Irish Tech News, 68% of the survey’s respondents revealed they have invested or will invest in cryptocurrencies like bitcoin, ether, or XRP “before the end of 2022.” Nigel Green, the founder and CEO of the deVere Group, reportedly noted wealthy individuals are increasingly seeking exposure to cryptocurrencies.
He added there’s growing acceptance “that cryptocurrencies are the future of money,” and as such high-net-worth individuals aren’t prepared to “miss out on this and are rebalancing their investment portfolios towards digital assets.” Green added:
Crypto is to money what Amazon was to retail. Those surveyed clearly will not want to be the last one on the boat.
Per the deVere Group founder and CEO, individuals throughout the world are gaining interest in cryptocurrencies because of fear of missing out and some of their properties, including being borderless, “perfectly suited” for the increasing digitalization of our era, and more.
One of the reasons Green claimed was spiking interest in high-net-worth individuals was the interest younger generations have. Notably, an eToro survey conducted earlier this year revealed about 71% of millennials would invest in crypto if it was offered by traditional financial institutions.
Another reason Green listed was institutional investors coming off of the sidelines and moving into crypto. Notably, a survey conducted by Greenwich Associated for Fidelity Investments found that nearly half (47%) of institutional investors believe cryptocurrencies are worth investing in.
Back in June of last year, a study conducted by deVere Group revealed that 35% of high-net-worth individuals were planning to or had already invested in cryptocurrencies. The study polled 600 of its clients throughout the world.