A study of over 700 individuals with a high net worth (HNW) has shown that almost 75% of the millionaire respondents either have cryptocurrencies, or expect to invest in crypto, in them by the end of 2022.
The survey by deVere found that 73% of those polled had a positive sentiment about cryptocurrencies, an improvement from 68% in 2019.
High Net Worth Individuals
These HNW individuals have at least a net worth of 1 million British pounds, amounting to about $1.32 million dollars. They were chosen from several areas like the United States, the United Kingdom, Asia, Africa, the Middle East, Australia, and Latin America.
DeVere Group CEO and founder Nigel Green stated that Bitcoin was the best performing asset of the year, with gains of over 125% so far.
Bitcoin (BTC) is just a few thousand from its all-time high of about USD $20,000. Although, while most of the crypto community looks at the market movement of Bitcoin in the United States, BTC has already reached strong values at all periods compared to many other world currencies.
Bitcoin Shows Strength in 2020
Bitcoin is currently in the midst of a rally. Bitcoin has had a fantastic year by all reports, including a fall at the start of the coronavirus pandemic that saw it lose 25% in March. Since December, it’s more than doubled and many fans are once again targeting the $20,000 mark as the next break barrier.
In recent months, innovations have helped drive this year’s rally. A Bitcoin fund was launched by Fidelity Investments, bringing its star strength and heritage to the Bitcoin space. Many famous names from Wall Street have bought in. Square Inc. and MicroStrategy Inc., public corporations, also recently invested in the coin.
And the October announcement of PayPal to enable consumers to tap cryptocurrency was one of the most prominent events for fans.
In our “Persisting Bitcoin Criticisms” series, we examine Fidelity’s report on the viability of Bitcoin.
Alistair Milne announced in a tweet on 22 October that seven countries already had Bitcoin at an all-time high compared to the native fiat currencies of those countries. Colombia and Russia are notable countries on this list.
Bitcoin recently outperformed the Russian ruble at the beginning of the month. A few weeks earlier, the asset broke its record peak, completing the list — with his final statement, which predicts “all other fiat currencies.”
Bitcoin has risen in U.S. dollar terms in recent weeks, leaving no space between its $17,267 press time price and its iconic $20,000 standard.
Bitcoin reached an all-time peak of 62,102,236 Colombian pesos earlier this month. Its previous record was 58,226,376 in 2017. On November 6th, the peso broke the amount and before tracing it touched 59,543,988.
Double Line Capital CEO Jeffrey Gundlach at Forbes’ Summit last week said that “Bitcoin makes me an honest individual in 2020.” Last week at the Forbes wealth management summit he was very bullishof his January forecast that Bitcoin would pass $15,000 this year.
He also claimed that Bitcoin was floating in tandem with gold, indicating investors flocking to the blockchain to cover them from inflation.
