Will the Super-Rich Kick Off the Next Cryptocurrency Bull Market?

According to a global survey, 68 percent of wealthy individuals are looking to invest in cryptocurrencies in the next three years — possibly being a catalyst to fuel a new cryptocurrency bull run. The vast majority of high-net-worth investors are taking an immense interest in cryptocurrencies and looking to increase their exposure to digital assets — a recent global poll reveals. This move might promote another leg higher in the crypto market.

Super-Rich Investors Turn To Crypto

The DeVere Group, an independent financial advisory organization, has conducted a survey among its 700-plus clients worldwide, including countries like the USA, the UK, Australia, the UAE, Japan, Switzerland, Hong Kong, France, and Germany. The poll participants were high-net-worth individuals each having more than £1 million ($1.3 million) in investable assets. According to the survey results, 68 percent of the respondents have already invested in cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), or are interested in making such investments before the end of 2022. Commenting on the research findings, Nigel Green, the founder and CEO of deVere Group, concluded that “wealthy individuals are increasingly seeking exposure to cryptocurrencies.”

FOMO And Other Major Reasons

Green believes that the reason for this tendency is the growing universal acceptance of digital assets as a future means of money. Rich investors don’t want to miss out on this global move and ‘be the last one on the boat,’ he explains. Apart from this FOMO (Fear Of Missing Out) factor, Green also highlights a few more major drivers standing behind this growing interest in cryptocurrencies:

• They are borderless, which is perfect in the modern globalized world.
• They are digital, which aligns with the current global trend towards digitalization.
• They help to efficiently address real-life issues, including international remittances in the places where people still don’t have access to banking services.
• Favourable demographic factors, since younger generations are more open to digital currencies than older people.

Next Crypto Bull Run Brewing?

Commenting on the ‘international surge in crypto-optimism,’ Green notes that cryptocurrencies are also increasingly accepted by institutional investors worldwide. Indeed, another recent survey confirms that large financial institutions and corporate investors have already been quietly navigating the crypto universe for months. This means that wealthy individuals and institutions might fuel the next crypto bull run and bring the market to new all-time-highs. Do you believe that high-net-worth individuals are able to bolster the next crypto bull market? Let us know your thoughts in the comments below!