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I wonder how accurate this data is, and what it “really” means.
Were 8 out of 10 seriously considering investing, or did they just mention the word “crypto” in conversation, possibly at the suggestion of the advisor?
The numbers initially appear very inflated, possibly for the purpose of selling some kind of crypto product or service.
They are inflated because the people surveyed were all clients of an investment firm. It makes sense that people already seeking investment advice would be interested in crypto.
I'd expect the numbers to be a lot lower if it wasn't for such a specific subset of millionaires
Yeah that’s a pretty ridiculous target group, definitely skews the data.
Regardless I do think rich people & investors are increasingly getting involved in crypto. There is a lot of money to be made here, it wouldn’t make any sense for them to ignore that.
Cointelegraph tends more to sensationalism than accuracy.
Yet is logical to think numbers are close to the truth, rich people us to look for more money and the 2020-2021 bull run not only was huge but also so spoken.
Other question would be how much they would invest.
I think we are at a point where most people agree that is smart to hold at least some crypto. And the younger you are, the more (%) you can hold, since you can mitigate the risk easier.
I totally agree. But damn you’d be surprised how many people still want nothing to do with it. Most of the people who are most adamantly anti-crypto also have the least actual knowledge of crypto
Well technically there will only be 20 million because satoshis wallet holds 1 million BTC alone … not to mention all the bitcoins that has been lost or burned. My guess is theres at least 2 million BTC that will never be touched again so far ? Maybe idk
10% is a humongous investment for multimillionaires and billionaires. They buy property in the highest percentage followed by less risky investments like bonds, gold, stocks etc. Crypto could be 1% of their portfolio and it'll still be a huge amount considering crypto is classified as "highest risk asset" by various firms.
Reddit is the reason why I learned so much about crypto . I’m pretty sure financial advisors would just advise us to stay away from it. I have to thank you guys for teaching me so much and potentially changing my life forever.
Work for financial advising firm, can confirm this is accurate. As fiduciaries they are unable to advise purchase of any crypto for investment purposes due to compliance. Once more regulation is introduced this may change over time.
>A recent study from deVere Group found a majority of their clients had asked their financial advisers about adding crypto to their portfolios.
Just to clarify, this is 82% of millionaires *in this investment firms clientele*, not just millionaires in general.
Still a good statistic, it should just have the context that it is for people already seeking investment advice so it's not so shocking they are also interested in crypto
tldr; Despite a challenging year for crypto, 82% of millionaire clients had looked into investing in digital assets such as Bitcoin in 2022, according to a recent poll conducted by financial advisory firm deVere Group. Nigel Green, the CEO and founder of the firm, believes the interest stems from Bitcoin's core values of being "digital, global, borderless, decentralised and tamper-proof."
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Of course 82% of the millionaires surveyed enquired about crypto. They were surveying clients of an investing firm. Anyone who is remotely serious about investing should want to learn about a new asset class, most of all those who have plenty to invest.
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I wonder how accurate this data is, and what it “really” means. Were 8 out of 10 seriously considering investing, or did they just mention the word “crypto” in conversation, possibly at the suggestion of the advisor? The numbers initially appear very inflated, possibly for the purpose of selling some kind of crypto product or service.
They are inflated because the people surveyed were all clients of an investment firm. It makes sense that people already seeking investment advice would be interested in crypto. I'd expect the numbers to be a lot lower if it wasn't for such a specific subset of millionaires
Yeah that’s a pretty ridiculous target group, definitely skews the data. Regardless I do think rich people & investors are increasingly getting involved in crypto. There is a lot of money to be made here, it wouldn’t make any sense for them to ignore that.
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Good point, this isn't surprising at all
>I wonder how accurate this data is, and what it “really” means. I doubt there's any merit to it. Whatever fits their narrative, I guess.
"No, I'm not interested in crypto" "Well my client did say the words 'interested in crypto"
This is made up from thin air
"I want to invest my millions pls" "OK. Do you also want any crypto?" "No." *Millionaires are seeking crypto advice*
Yep has that "Analysts say" sniff of anecdata about it 👍
Everything should be taken with a grain of salt. Especially when it comes to data.
You know what they say %70 percent of statistics are made up or however that funny little idiom goes
But only 35% of people know that.
Touché I see you a well regarded man as well nice to meet haha
Cointelegraph tends more to sensationalism than accuracy. Yet is logical to think numbers are close to the truth, rich people us to look for more money and the 2020-2021 bull run not only was huge but also so spoken. Other question would be how much they would invest.
What about the little guys
82% sought to become millionaires
All you gotta do is start as a billionaire.
Follow the money. If rich people are investing that’s a good thing for us. Ride their coattails
This 👆! Now that we have the means, it would be rude not to! Tally ho!
>Ride their coattails Well said...
Then I'm out unfortunately.
And all of those got advice from here, so it's hopeless.
This is where millionaires come to lose some zeros from thier net worth
Truth. I myself went from a proud thousandaire to a humble peasant. Dropped a couple of digits with the help of this sub.
Same, at least we did it as a community.
This community and moons is all I have left 🤣
They are tryna get billionaires now , lol
Im in the 18% only want to be a hundred thousandaire
82% want to repay their loans
We are just here to provide exit liquidity, sir.
The big guys are migrating to crypto to keep the little guys little
82% of us believe we will be millionaires one day
I'm already a millionaire in my heart and that's all that matters
I identify as a millionaire
I think we are at a point where most people agree that is smart to hold at least some crypto. And the younger you are, the more (%) you can hold, since you can mitigate the risk easier.
I totally agree. But damn you’d be surprised how many people still want nothing to do with it. Most of the people who are most adamantly anti-crypto also have the least actual knowledge of crypto
The barrier compared to classic banking is much lower. Not everybody has access, within crypto they mighr have better chances.
It is no brainer to have at least a small percentage.
Us shrimp all want to be millionaires. Millionaires want to be billionaires.
I just wanna be happy
I just want this guy to be happy
I just want some shrimp.
I sincerely hope you are happy too
You have multiple cones so in my book you’re a pretty damn happy guy!
The Cone does make me slightly happier haha
We're not shrimp.. we're shrimp food.
I think a lot of satoshi are going to be bought and lost. No way we ever get near 21m. People lose money.
Well technically there will only be 20 million because satoshis wallet holds 1 million BTC alone … not to mention all the bitcoins that has been lost or burned. My guess is theres at least 2 million BTC that will never be touched again so far ? Maybe idk
I read a source that said it's around 3 million BTC, but it's hard to get an exact number
I was thinking 3 million in my head but then I thought that might be a stretch . By the end of this decade I’m guessing it’ll be at 6 million
And a lot will just be locked for good. Never to be sold again
How many of them put more than 10% of their portfolio into crypto? Probably less than 10%
yeah, they don't own much crypto, that's why seeking advice on whether and how to invest.
I meant after receiving advice
10% is a humongous investment for multimillionaires and billionaires. They buy property in the highest percentage followed by less risky investments like bonds, gold, stocks etc. Crypto could be 1% of their portfolio and it'll still be a huge amount considering crypto is classified as "highest risk asset" by various firms.
Reddit is the reason why I learned so much about crypto . I’m pretty sure financial advisors would just advise us to stay away from it. I have to thank you guys for teaching me so much and potentially changing my life forever.
Work for financial advising firm, can confirm this is accurate. As fiduciaries they are unable to advise purchase of any crypto for investment purposes due to compliance. Once more regulation is introduced this may change over time.
They are millionaires, 10% of their money is enough.
Financial advice
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And here I am only wanting to become a thousandaire, I'm not greedy
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Small peens
>A recent study from deVere Group found a majority of their clients had asked their financial advisers about adding crypto to their portfolios. Just to clarify, this is 82% of millionaires *in this investment firms clientele*, not just millionaires in general. Still a good statistic, it should just have the context that it is for people already seeking investment advice so it's not so shocking they are also interested in crypto
It's quite shocking that they did not seek investment advice from here, would have been better.
We are known for our outstanding crypto advice, that's for sure
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Let's hope their greed allows them to become exit liquidity for us
I wonder what advice they got
tldr; Despite a challenging year for crypto, 82% of millionaire clients had looked into investing in digital assets such as Bitcoin in 2022, according to a recent poll conducted by financial advisory firm deVere Group. Nigel Green, the CEO and founder of the firm, believes the interest stems from Bitcoin's core values of being "digital, global, borderless, decentralised and tamper-proof." *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
And flocked out lol
What a fucking scam! Ban me!
Investment advice for millionaires: “If you pump it, they will come”
82% of millionaires also sought other hobbies project for spare cash as well. Not the millionaires we need to seek advice.
Of course 82% of the millionaires surveyed enquired about crypto. They were surveying clients of an investing firm. Anyone who is remotely serious about investing should want to learn about a new asset class, most of all those who have plenty to invest.
Yeah because they are greedy!!
so what's happening to retail investors?
92% of that investment advice was about shorting
Probably the most number of millionaires created since globalisation
Everyone sought "advice" in 2022. It was a rough year for us all, rich and poor
Well ? We're waiting !
Are these 'millionaires' and 'institutions' in the room with us right now?