As it turns out, crypto will be a part of the portfolios that millionaires own by the end of 2022. According to a new study conducted among 700 millionaires, 73% already own, or are prepared to invest in, crypto before 2022 is out.
The data comes from deVere Group which marked a heightened interest towards crypto among high-net-worth individuals, up from 68% in 2019.
In order to provide a full and detailed picture, all individuals on the list were selected from multiple regions and were worth at least $1.35 million each.
deVere noted that Bitcoin remained the best performing asset of the year and that it was likely to remain so, not least thanks to PayPal's decision to enable crypto trades, boosting confidence in cryptocurrencies several-fold.
Several Bitcoin-deniers, including JP Morgan Chase, are now warming to the notion that Bitcoin is a good idea all in all. Blockchain technology certainly has merits, but digital assets such as crypto have been a long-debated flip-of-the-coin, mostly because of lack of regulation.
Regulation in the crypto sector, though, is changing with more clarity being introduced every month. Ray Dalio, a billionaire hedge fund manager, has expressed doubt about Bitcoin in the past but he humbly asked to be corrected via a Twitter message earlier this week.
“Am I missing something,” Dalio asked. Bitcoin indeed seems to be running on the collective belief of the community. Despite depreciation and the finite resource of Bitcoin that can be owned overall, interest in the currency has remained high.
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