Mr. Nigel Green, Chief Executive Officer of deVere Group, one of the world’s largest independent financial advisory organisations has disclosed that the price of Bitcoin is up 125 percent year-to-date, making it once again one of the best-performing assets of the year.
This disclosure is coming after a survey, carried out by deVere Group, finds that 73% of millionaires have already invested in or will make investments in digital currencies, such as Bitcoin, Ethereum and XRP, before the end of 2022.
The findings come as the price of Bitcoin rallied to $17,858 – almost at the $19,763 all-time high reached in December 2017.
“As the survey shows, this impressive performance is drawing the attention of wealthy investors who increasingly understand that digital currencies are the future of money and they don’t want to be left in the past.”
The same poll undertaken last year found that 68% of high net worth individuals are now already invested in or will make investments in digital currencies before the end of 2022, meaning there has been a jump of 5% year-on-year.
He continues: “No doubt that many of these HNWs who were polled have seen that a major driver of the price surge is the growing interest being expressed by institutional investors who are capitalising on the high returns that the digital asset class is currently offering.
“They – including some of the biggest Wall Street banks amongst others – are now aware that the world’s biggest and most influential decentralised currency isn’t going anywhere.
“This will mean that they are set to bring even more of their knowledge and capital into the already booming sector – and this is unlikely to have been overlooked by wealthy retail investors.
The surge takes the leading cryptocurrency’s total market capitalisation to over $315 billion, just below its $335 billion record. The 700-plus respondents are clients who currently reside in North America, the UK, Asia, Africa, the Middle East, East Asia, Australasia and Latin America.
Mr. Green goes on to add: “Nor too will the recent decision by one of the biggest payment companies in the world, PayPal, to allow customers to buy, sell and hold Bitcoin, have gone unnoticed.”