Of the 700 people surveyed by the deVere Group, 511 individuals with a net worth above £1m ($1.3m) already own cryptocurrencies such as Bitcoin, Ethereum and XRP, or plan to add them to their investment portfolios by the end of 2022.
Bitcoin Surge: 73% of Millionaires Already Invested or Plan to Invest in Cryptocurrencieshttps://t.co/RAF5nI3eGv
Investors King @InvestorsKing— deVere Group (@deveregroup/status/1329084494695919621?ref_src=twsrc%5Etfw\”>November 18, 2020
Compared with the previous similar survey conducted in 2019, the share of millionaires receptive to digital assets rose from 68% to 73%.
The survey included investors from the United States, the United Kingdom, Australia, Japan, Qatar, Switzerland, Mexico, Hong Kong, Spain, France, Germany, South Africa and the UAE.
The main reason cited by respondents for considering a Bitcoin purchase was its property “hedging against long-term inflation fears, which have come to the fore due to stimulus packages.”
“Undoubtedly, many survey participants realise that the main driving force behind the price surge is the growing interest from institutional investors,” added Green.
Earlier, billionaire Stanley Druckenmiller, a former Quantum partner of George Soros, suggested that Bitcoin could surpass gold as a store of value.
In October, another billionaire, founder and chief investment officer of Tudor Investment Paul Tudor Jones, compared buying Bitcoin with investments in some of the largest technology companies at an early stage.
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