A total of 511 of the 700 individuals surveyed by the consulting company deVere Group with a net worth of over £1 million ($1.3 million) either already own cryptocurrencies such as Bitcoin, Ethereum and XRP, or plan to add them to the investment portfolio by the end of 2022.
Compared to the previous similar survey conducted in 2019, the proportion of millionaires supportive of digital assets increased from 68% to 73%.
The study involved investors from the USA, Mexico, Australia, Japan, Switzerland, Qatar, UK, France, Spain, Hong Kong, Germany, South Africa, and the UAE.
The issue of devaluation of wealth
According to the study, the main motivation for respondents to consider buying Bitcoin is its property of “hedging against long-term inflationary fears that have come forward due to stimulus packages.”
“The impressive growth of the first cryptocurrency by 125% since the beginning of the year cannot but attract the interest of large investors. They recognize that digital currencies are the future form of money, they do not want to be in the past, ” – explained the results of the survey, the founder and CEO of deVere Nigel Green.
He believes that news of the addition of Bitcoin buying and selling services by companies such as PayPal and Square has added to the warming investor sentiment towards cryptocurrencies.
Bitcoin – the new gold?
“There is no doubt that many of the survey participants are aware that the main driving force behind the price spike is the growing interest from institutional investors,” added Greene.
As a reminder, George Soros’ former partner in the Quantum fund, billionaire Stanley Druckenmiller, pointed out that Bitcoin may be a better tool for preserving the value of assets than gold.
In October, another billionaire, founder of Tudor Investment, Paul Tudor Jones, compared buying Bitcoin to investing in some of the biggest tech companies early on.
Furthermore, Ricardo Salinas Pliego, the second richest person in Mexico, stated that he has invested 10% of his so-called “liquid portfolio” in the first cryptocurrency.
