Millionaires are starting to take an interest in Bitcoin (BTC)
As reported by the Finbold media, 700 “high net worth individuals”, or very wealthy people, were interviewed. That is, investors with over 1 million British pounds (GBP) – approximately 1.2 million euros at the current rate. These avid Bitcoin millionaires are not necessarily located in the UK, however, they come from a wide variety of regions.
73% of them said they already own bitcoin, or that they planned to buy by 2022. This is an increase from 2019, when 68% of them said they wanted to bet on Bitcoin.
👉 To read: How to buy bitcoins (BTC)?
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Inflows of capital into Bitcoin
As the study explains, millionaires are increasingly turning to Bitcoin as large institutions and companies are interested in the subject of cryptocurrencies. The arrival of PayPal and Square in the race has certainly precipitated the trend: it brings legitimacy to a sector that still sometimes suffers from a mixed reputation.
DeVere Group CEO Nigel Green also thinks it’s a basic math: Bitcoin continues to feature among the best performing assets of the moment, with an increase of + 125% compared to last year:
“This impressive performance is attracting the attention of high net worth investors, who are slowly realizing that digital currencies are the future of money – they don’t want to cling to the past. “
It is certain that we see more and more millionaires taking an interest in Bitcoin. We learned yesterday that a large Mexican fortune had devoted 10% of its cash to BTC. This summer we also learned that 25% of institutional investors hold Bitcoin, which clearly shows this change in mentalities.
All this is therefore logically transcribed in the price of Bitcoin. In the middle of the bull run for several weeks, he briefly crossed the threshold of 18,400 dollars yesterday, and traded this morning for $ 17,800.
👉 To go further: Gold VS Bitcoin: institutions choose BTC, according to JPMorgan
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About the Author : Marine Debelloir
Intrigued by Bitcoin for several years, I developed a passion for crypto-currencies and the innovative technologies that result from them. I like to unearth the most delicious information to share it with you and help democratize this fascinating universe. But I don’t stop there! I also like to analyze projects related to cryptos and blockchains, which fascinate me just as much.
All articles by Marine Debelloir.