Oxstones Investment Club™Scott Thompson Coin Rivet
68% of high-net-worth individuals (£1 million-plus) will be invested in cryptocurrencies in the next three years, according to deVere Group research involving 700 of its global clients.
Nigel Green, founder and CEO of deVere Group, comments: “There is growing, universal acceptance that cryptocurrencies are the future of money – and the future is now. High net worth individuals are not prepared to miss out on this and are rebalancing their investment portfolios towards these digital assets. Crypto is to money what Amazon was to retail. Those surveyed clearly will not want to be the last one on the boat.”
Green believes there are five other main drivers here. First, cryptocurrencies are borderless, making them perfectly suited to an ever globalised world of commerce, trade, and people. Second, they are digital, making them perfectly suited for the increasing digitalisation of our world, which is often called the fourth industrial revolution.
Third, they provide solutions for real-life issues, including making international remittances more efficient, and help bank the world’s estimated two billion ‘unbanked’ population. Fourth, demographics are on the side of cryptocurrencies as younger people are more likely to embrace them than older generations. And fifth, institutional investors are coming off the sidelines and moving into cryptocurrencies.
$6,000
Last month, Green made headlines when he stated that, after being in bear territory, there was a growing sense that Bitcoin was back. As the cryptocurrency crossed the $5,000 line in early April, he said: “I’m now calling that the market has bottomed and the so-called crypto winter has come to an end. I believe it will now move higher over the next few weeks and months, making steady gains for investors. As the largest cryptocurrency by market cap, this will have a positive impact on prices in the wider crypto sector.”
He added that the space was on the verge of a “true global breakout..Adoption is increasing all the time. This is evidenced not only in the financial sector, in which major banks are increasingly looking at blockchain and crypto, but with big names within the tech and retail sectors too.”
“I think we could reasonably see the Bitcoin price hitting $7,000 in the next few months,” he concluded.
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https://finance.yahoo.com/news/millionaires-increasingly-seeking-exposure-crypto-130044500.html
Tags: Blockchain, cryptocurrencies, cryptocurrency, deVere Group, digital assets, globalised world, High Net Worth Individuals, investment portfolios