February 1, 2023

Survey Shows 82% of Millionaires Interested in Including Crypto to Their Portfolios

Bitcoin

Bitcoin

Devere Group, a global financial advisory firm, said 82% of millionaire clients seek to add cryptocurrencies, like Bitcoin, to their portfolios. 

This percentage came in a crypto survey conducted by Devere, which published its results on Monday. The asset management firm found that its millionaire clients, whose investable assets range between $1 million and $5 million asked for adding cryptocurrencies to their portfolios, thinking that would make them part of the future of the economy. 

“Eight out of 10 high net worth (HNW) individuals have asked their financial advisers about including cryptocurrencies, such as bitcoin, into their portfolios over the last 12 months — despite the market experiencing a difficult year in 2022,” Devere was quoted by Bitcoin.com as saying. 

The firm’s chief executive said wealthy investors understand that digital currencies are the future of money and they want to be a part of this future. Devere Group CEO Nigel Green underlined that 2022 was the worst year for the crypto industry since 2018, as Bitcoin dropped by 75% throughout this year. 

According to Green, this drop made the investors decrease their exposure to risk-on assets, including stocks and crypto, due to heightened concerns about inflation and slower economic growth. He also added that millionaires urged their financial advisers to give advice about digital currencies to be included in their portfolios despite the crypto winter in 2022. 

He further said that such a percentage showed these wealthy clients are aware of the power and characteristics of cryptocurrencies, which are global, digital, boardless, and tamper-proof. 

Earlier, another survey by Nickel Digital Asset Management suggested 65% of the institutional investors surveyed agreed that BTC could reach $100,000. Also, global investment bank Goldman Sachs ranked bitcoin the best-performing asset in January this year. 

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