68% of Rich Investors Admit They’ve Caught the Bitcoin Bug

68% of Rich Investors Admit They’ve Caught the Bitcoin Bug

Crypto Market Cap to Hit $20 Trillion in Less Than a Decade

Mr Green by early last month had forecasted that the bitcoin price would rally 40% to reach $7,000 by the end of the year. This is as a result of this morning’s jump, the sudden increase which took bitcoin to a new 2019 high above $5,770 on Bitstamp making it already halfway there. Green already counts himself among the Bitcoin bulls.

He is even more wildly optimistic considering his long term out look Last year.
The total cryptocurrency market cap would cover the $20 trillion mark within the next decade according to Green, He also believes altcoins will outshine bitcoin, reducing their stand on the longstanding market dominance in cryptocurrency.

According CCN: The wealthy investors are rapidly contracting the bitcoin bug as the cryptocurrency virus continues to spread like wild fire.
This has been viewed as being the case from a blockbuster survey conducted by deVere Group, a wealth adviser with 12 billion dollar under advisement and more than 80,000 clients.

By 2022 ,Almost Every Wealthy Investor Will Own Cryptocurrency

A report from a survey found out that 68% of high-net-worth investors plan to invest in bitcoin including other cryptocurrencies within the next three years. This survey includes responses from 700 deVere clients across the world with at least £1 million in investable assets, “From the foregoing, we can see that that wealthy individuals are increasingly seeking exposure to cryptocurrencies,” said Nigel Green, founder and CEO of deVere Group. “There is growing, universal acceptance that cryptocurrencies are the future of money – the future of money lies with cryptocurrency and the future is now”.

High net worth individuals are ndont want to be missed out on this and they are rebalancing and strategizing their investment portfolios to comply with these digital assets.”
Bitcoin Will Revolutionize Money Like Amazon Disrupted Retail

No body wants to be left out as the adoption of crypto is on the rise as Green explained that FOMO – the fear of missing out – will drive wealthy investors to add cryptocurrency to portfolios.

Just like e-commerce giant Amazon plowed through the retail industry, he predicted that asset class would as well upend money and that sophisticated investors wouldn’t want to find themselves on the outside looking from afar.

“Crypto is to money what Amazon was to retail. Those investors surveyed , actually will not want to be the last one on the boat.”
They may not want to end like Warren Buffett, whose firm finally invested in Amazon stock – about two decades too late – who continues to punt at its chance to purchase bitcoin at a more than 70% discount from its all-time high.

Increasingly, it looks like time is actually against Warren Buffett and Berkshire Hathaway.

To DeVere’s survey which adds to a growing body of research that suggests that ” Institutional investors and other wealthy individuals might not have piled into cryptocurrency, many adopting it as quickly as many bulls expected, the herd – to borrow a term from Mike Novogratz – is finally coming”. The ultimate integration and drift to cryptocurrency world is at hand.

Just yesterday, CCN reported that almost three-quarters of financial advisors expressed a favourable opinion of cryptocurrency, almost half of institutional investors are bullish on cryptocurrency and 20% have already invested in the nascent asset class .This is a new survey report from major asset manager Fidelity . This is quite Remarkable.

 

 

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CREDITS: CCN, Shutterstock

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