Everything The Felder Report got wrong about Bitcoin

Published on by Cointele | Published on

A survey of more than 700 high-net-worth individuals, or HNWs, has found that almost three-quarters of millionaire respondents either already own or are looking to invest in cryptocurrencies before the end of 2022.

Conducted by financial advisory organization deVere Group, the survey revealed that 73% of respondents are bullish toward cryptocurrencies, an increase from 68% in 2019.

They were selected from a wide variety of regions including the United States, the United Kingdom, Asia, Africa, the Middle East, Australia and Latin America.

"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."

"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."

Even former Bitcoin skeptics on Wall Street are warming to digital currencies.

During a recent New York Times conference, JPMorgan Chase's Chairman and CEO Jamie Dimon said he's a "Believer" in blockchain technology and "Properly backed, properly regulated" cryptocurrencies.

"I might be missing something about Bitcoin so I'd love to be corrected."

Dalio had suggested Bitcoin falls down as a store of value and that governments may "Outlaw it and make it too dangerous to use." He also said that he can't imagine central banks, multinational companies and big institutional investors using it.

The survey of millionaires was revealed the same day that Bitcoin's total market cap hit a new all-time-high of $336 billion and its price rallied to above $18,000, just shy of the $19,763 high reached in December 2017.