Millionaires are Willing to Embrace Cryptocurrencies

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Stock market update on August 22

The survey conducted by the financial advisory organization deVere Group revealed interesting details. Importantly, more than 700 high-net-worth individuals took part in this survey. According to the survey, almost three-quarters of millionaire respondents either already own or are planning to invest in cryptocurrencies before the end of 2022.

It is worth noting that each of the participants who took part in the survey has more than 1 million British pounds. People should consider that respondents were selected from a wide variety of regions, including the U.S., the U.K., Asia, the Middle East, Africa, Latin America, and Australia.

Based on the information provided by the founder and CEO of deVere Group Nigel Green, Bitcoin is one of the best-performing assets in 2020, with a year-to-date increase of 125%.

As can be seen from the survey, this formidable performance is attracting the attention of rich investors. They understand that digital currencies are the future of money and they would like to adapt to the new reality.

Cryptocurrencies, crypto news on December 19

Cryptocurrencies and Wall Street

It is worth mentioning that, even former Bitcoin skeptics on Wall Street are changing their attitude regarding the cryptocurrencies. For example, during a recent New York Times conference, JPMorgan Chase’s Chairman and CEO Jamie Dimon made an interesting comment. He stated he believes in blockchain technology as well as properly backed, properly regulated cryptocurrencies.

As a reminder, several years ago, he referred to Bitcoin as a fraud. However, JPMorgan Chase has since embraced digital assets.

Interestingly, the survey of millionaires became available the same day that Bitcoin’s total market cap hit a new all-time high. That day the total market cap reached $336 billion and its price rallied to above $18,000.

As can be seen from the survey conducted by deVere Group, millionaires are willing to embrace cryptocurrencies. Moreover, even Bitcoin skeptics such as Jamie Dimon changed their opinion regarding cryptocurrencies. This fact shows that people step-by-step started to realize the importance of Bitcoin and other cryptocurrencies.

Hopefully, more and more people from Wall Street will change their positions regarding this issue. Crypto-related companies should work with them as well as governmental organizations to address all challenges. It will take time, but in several years not only wealthy people from Manhattan but people from all over the country and abroad will start investing in cryptocurrencies. Authorities from around the world should join forces to find the best solution when it comes to regulations.

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