A recent study by deVere Group found that nearly four out of every five of its high net worth respondents asked their financial advisors about adding crypto to their portfolio
Despite a challenging year for cryptos, 82% of millionaire clients sought to invest in digital assets like Bitcoin
BTC
Make a ticker below
$23,822
2022, according to a recent survey by financial advisory firm DeVere Group.
The results of the survey, published on January 30, showed that eight out of every 10 high net-worth (HNW) clients of the surveyed firm – those with investable assets between $12 million and $6.1 million – switched to the crypto game 12 months before receiving advice.
Nigel Green, chief executive and founder of Devere Group, said that despite the surveyed group being “generally more conservative”, he believed the interest was “digital, global, borderless, decentralized and tamper-proof” of bitcoin’s core values
Studies by the firm over the past years have shown a trend of increasing interest in crypto investments by wealthy investors.
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A 2020 study by deVere found that 73% of 700 high net worth individuals surveyed will invest or own or intend to invest in cryptocurrencies before the end of 2022, while the firm’s The 2019 study found that 68% of global HNW individuals will already try to invest in cryptocurrencies By the end of 2022, they have invested or are planning to invest in crypto.
Green also noted the interest of legacy financial institutions such as Fidelity, BlackRock and JPMorgan in offering crypto services to clients as a good sign for the industry
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A June report from PricewaterhouseCoopers found that nearly a third of 89 traditional hedge funds surveyed are already investing in digital assets such as BTC
Devere’s CEO believes this momentum of interest could grow further as the “crypto winter” of 2022 thaws out following changing circumstances in the traditional financial system.
“Bitcoin is on track for its best January since 2013 with inflation peaking, monetary policy becoming more accommodative, and various crypto-sector crises, including high-profile bankruptcies, now in the rear-view mirror.”
“The world’s largest cryptocurrency has grown more than 40% since the turn of the year, and this will not go unnoticed by HNW customers and others who want to create wealth for the future,” Green added
Over the past year, it’s not just wealthy individuals who have increased their crypto holdings.
About 13% of the U.S. population – about 43 million people – hold cryptocurrencies at some point in their lives, up from just about 3% in 2020, according to a Dec. 13 report from JPMorgan Chase
