82% of millionaires ask about putting crypto in their portfolios, survey shows
The Devere Group, a global financial advisory and asset management firm with $12 billion in assets worldwide, published the results of its crypto survey on Monday. The Devere Group noted that its millionaire clients have between $1 million and $5 million in investible assets and that 82 percent have sought advice about investing in cryptocurrencies, and the asset management firm, without providing additional details, It appears that 8 out of 10 high net worth (HNW) individuals have talked to their financial advisors about adding a currency like bitcoin to their portfolios in the last 12 months and the market is expected to experience a rough year in 2022. Despite this advice has been received.
The crypto market is set to post its worst performance since 2018 in 2022, with bitcoin seen as the market leader grabbing the headlines, declining by up to 75 percent during the year, according to comments by group CEO Nigel Green. He explained that the decline in the price of cryptocurrencies was a result of investors “covering their exposure to other risk assets, including stocks and cryptocurrencies, along with growing concerns about inflation and slowing economic growth”.
While executives point out that despite the crypto winter, high-net-worth investors were increasingly consulting financial advisors regarding the inclusion of digital currencies in their portfolios. Green responds that interestingly, the more conservative group was generally not swayed by adverse market conditions and was looking to incorporate or start growing cryptocurrencies. Executives insist that this suggests that high-net-worth clients are aware of the characteristics of a currency like bitcoin, which has the core values of being digital, global, borderless, decentralized and tamper-proof. According to the executive, wealthy investors recognize that digital currencies are the future of money and do not want to remain in the past, further adding that bitcoin is on track for its best January since 2013, based on expectations that inflation will peak. monetary policies have turned more accommodative and various crypto-sector woes, including high professional bankruptcies, are now in the rear-view mirror. Given that bitcoin is up nearly 40 percent this year, the executive adds that the cryptocurrency’s performance will not go unnoticed by high-net-worth clients and those of its clients who want to build wealth for the future. He concluded that if HNW 2022 bears were so interested in the market as market conditions continued to improve and would be among the first to commit further capital or invest in it. were expressing such great interest in the market, as market conditions continue to improve, they will be among the first to capitalize on the upcoming bull run.
Green and Devere Group’s survey participants aren’t the only ones with an optimistic trend toward bitcoin. A recently published survey by Nickel Digital Asset Management found that institutional investors expect a strong year for bitcoin and 65 percent of investors agree and believe that bitcoin can reach $100,000. .
A separate survey by Bitwise and Vitafi found that financial advisors are more engaged in crypto markets with 15% allocated to MLA accounts and about ninety percent of the space received inbound queries from clients. Last month, global investment bank Goldman Sachs picked bitcoin as the best performing asset this year.
