68% of global high-net-worth individuals have already invested or are planning to invest in crypto by the end of 2022, according to a survey by Dubai-based financial consultancy firm deVere Group released on May 3.
DeVere group has more than $10 billion in assets under advice, with more than 80,000 clients located in more than 100 countries.
More than two-thirds of global individuals whose assets’ value is equivalent or greater than 1 million British pounds (GBP) or $1.3 million, will be invested in cryptocurrencies such as bitcoin (BTC), ether (ETH), and ripple (XRP), the report notes.
The new survey included more than 700 deVere clients as respondents, located in major global countries such as the United States, the United Kingdom, Australia, Japan, Qatar, Switzerland, Mexico, Hong Kong, Spain, France, Germany and South Africa and the United Arab Emirates.
DeVere founder and CEO Nigel Green has outlined five major factors that drive global high-net-worth individuals to keep an eye on crypto, not including the Fear Of Missing Out, or FOMO. According to Green, the first major reason is that cryptocurrencies are borderless, which enables the asset to be available everywhere all over the globe.
The other factors include the fact that crypto suits the general global trend of increasing digitalization, the capability of crypto to provide solutions for real-life issues such as international remittances and providing services for the world’s assessed two billion person unbanked population, as well as acceptance by the younger generation and the active involvement by institutional investors.
Green further stated that once confidence is in place, “the sky is the limit for cryptocurrencies,” concluding that the new poll demonstrated a “justified international surge in crypto-optimism.
The survey has come amid the recent major bull market move, with bitcoin breaking the $5,800 threshold for the first time in 2019.
Yesterday, the U.S.-based asset management firm Fidelity Investments released a new survey finding that 22% of institutional investors already own digital assets.
