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82% will seek investment advice in 2022

Delbert Williams IIBy No Comments3 Mins Read

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Despite a difficult year for cryptocurrencies, 82% of billionaire clients would consider investing in digital assets such as Bitcoin (BTC) in 2022, according to financial advisory firm deVere. That’s according to a recent poll conducted by The Group.

Eight out of 10 of the company’s high net worth (HNW) clients with between $1.2 million and $6.1 million in investable assets have had a financial crisis in the past 12 months, according to poll results released Jan. 30. I asked my advisor for advice on cryptocurrencies.

Nigel Green, CEO and founder of deVere Group, said the interests were “digital, global, borderless, decentralized and tamper-proof”, even though the groups surveyed were “usually more conservative.” He said he believes it comes from the core value of Bitcoin.

The company’s research over the past few years has shown a trend of growing interest in cryptocurrency investments by wealthy investors.

A 2020 survey by deVere found that 73% of the 700 high net worth individuals surveyed already own or are considering investing in cryptocurrencies by the end of 2022. Meanwhile, the company’s 2019 survey found that 68% of the world’s wealthy individuals have already invested or are planning to. Invest in cryptocurrencies by the end of 2022.

Green also notes that the growing interest of traditional financial institutions such as Fidelity, BlackRock and JP Morgan in offering cryptocurrency services to their clients bodes well for the industry.

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A June 2022 report from PricewaterhouseCoopers (PwC) found that about a third of the 89 traditional hedge funds surveyed already invested in digital assets such as BTC.

The deVere CEO believes this interest could gain even more momentum as the 2022 “crypto winter” unwinds as a result of changes in the traditional financial system.

“Bitcoin has surged to its highest level since 2013 on expectations that inflation has peaked, monetary policy has become more favorable, and various crypto sector crises, including high-profile bankruptcies, are now in the rearview mirror. We are well on our way to January.”

“The world’s largest cryptocurrency is up more than 40% since the start of the year, and high net worth clients and those looking to build wealth for the future will go unnoticed,” Green added. rice field.

The wealthy weren’t the only ones who increased their holdings of cryptocurrencies last year.

According to a JP Morgan Chase report of December 13, 2022, about 13% of the U.S. population, or about 43 million people, own cryptocurrencies at some point in their lives, compared to just about 3% in 2020. increased from the number shown.