Irrespective of the risk connected with buying Bitcoin and other topmost cryptocurrencies, several millionaires around the world are favoring digital money.
As per a recent survey by deVere Group – 68% of the world’s high net-worth individuals as of now invested in cryptocurrency or plan to do so by 2022. deVere Group is the Dubai-based financial consultancy organization which has above 80,000 clients situated in above 100 countries.
— deVere Group (@deveregroup) 3 May 2019
This survey was conducted on over 700 deVere clients from all across the globe including the United Kingdom, the United Arab Emirates, the United States, Australia, Qatar, Switzerland, France, Germany, Mexico, Japan, Hong Kong, Spain, and South Africa.
The report also indicated that people worldwide whose assets’ value is equivalent to or more than $1.3 million or 1 million British pounds (GBP) would be invested in cryptocurrencies. Those cryptocurrencies can be bitcoin (BTC), ripple (XRP), and ether (ETH).
According to founder and CEO of DeVere group, Nigel Green the interest of global millionaires in digital money is influenced due to the following five factors:
- Digital money is borderless which makes it highly attractive to high net worth individuals. As the asset is easily accessible throughout the globe.
- It has the potential to satisfy the overall global trend of growing digitalization.
- Crypto is trusted by the younger generation to shift from the traditional financial market.
- Crypto can potentially offer solutions for real-life problems, for instance, international payments and giving services for the estimated two billion people of the world’s “unbanked” population.
- There is an active engagement of institutional investors in crypto.