Wealthy increase cryptocurrency exposure
More than two-thirds of high-net-worth individuals will be invested in cryptocurrencies in the next three years, according to a new global poll.
The deVere Group survey showed that 68 per cent of poll participants had already been invested or would invest in cryptocurrencies such as Bitcoin, Ethereum and XRP, by 2022.
The over 700 respondents are clients who resided in the US, UK, Australia, the UAE, Japan, Qatar, Switzerland, Mexico, Hong Kong, Spain, France, Germany and South Africa.
Nigel Green, founder and CEO of deVere Group, said there is universal acceptance that cryptocurrencies would be the future of money.
“High net worth individuals are not prepared to miss out on this and are rebalancing their investment portfolios towards these digital assets,” Green said.
“Crypto is to money what Amazon was to retail. Those surveyed clearly will not want to be the last one on the boat.”
AUTHOR
Chris Dastoor
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
