[05-03-2019] 68% of global Millionaires already invested or are planning to inve

Betwrong

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Quote from: Lucius on May 05, 2019, 05:43:11 AM

Quote from: Betwrong on May 04, 2019, 12:11:36 PM

If because of movies, news etc. to have 1 Bitcoin will be in vogue, many of those millionaires will desire to have one, not to profit from it in the future, but to brag before their friends, just like they do with expensive Swiss watches.

The fact is that the number of millionaires and billionaires increases each year, unfortunately at the expense of the majority of the world's population, but it is the world we live in. There is a chance that some of them will want to have at least 1 BTC, but we can not compare that with expensive watches, yachts or private jets, this is something that is definitely shown to others as a status symbol. I doubt that some millionaires would brag about how he have some bitcoin, that's what everyone can do just by make some watch-only wallet with any amount of coins.
~

But that's not how most of them act. Being able to buy a high quality replica of Rolex watches for $200, which is impossible to tell from the real ones by sight, they are buying genuine Rolex watches for $20,000. Those people would better buy a real BTC to brag about it rather than show a fake amount of coins in a watch-only wallet.

So, I still count on eagerness of the rich to brag about exquisite things they have.

And Bitcoin is definitely an exquisite thing.

Lucius

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Quote from: Betwrong on May 04, 2019, 12:11:36 PM

If because of movies, news etc. to have 1 Bitcoin will be in vogue, many of those millionaires will desire to have one, not to profit from it in the future, but to brag before their friends, just like they do with expensive Swiss watches.

The fact is that the number of millionaires and billionaires increases each year, unfortunately at the expense of the majority of the world's population, but it is the world we live in. There is a chance that some of them will want to have at least 1 BTC, but we can not compare that with expensive watches, yachts or private jets, this is something that is definitely shown to others as a status symbol. I doubt that some millionaires would brag about how he have some bitcoin, that's what everyone can do just by make some watch-only wallet with any amount of coins.

The only reason for their potential investment is because of profit or to hide money, and they will use anything including bitcoin to achieve this.

magneto

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I honestly don't think that this statistic says much about the level of adoption by high net worth individuals at all. I'd be surprised if actual adoption figures are that high for these people on a global basis.

The fact that they conducted this survey means that they most likely have some sort of affiliation with crypto investment packages or services already, which increases the propensity that one of their clients is actively investing in a cryptocurrency. That in itself might skew the data.

Also, speculation =/= adoption. A lot of these people are probably opportunistic and don't recognise the underlying merits of bitcoin that make it valuable, but instead just want to ride the short term markets. They might only invest in derivatives and never set up a bitcoin wallet, for instance.

But the thing that we do know for sure is that adoption is going to be on the rise, potentially accelerated by the next bull market as well.

BitHodler

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Quote from: figmentofmyass on May 04, 2019, 11:51:40 AM

i'm curious how many have actually invested vs those who plan to invest. talk is cheap!

I guess we won't be finding that out any time soon, especially with how investing in Bitcoin is still somewhat of a taboo subject matter among the more traditional minded investors. It really shouldn't be, but it's the reality.

Investing in Bitcoin hasn't been something to be proud of last year. Dip buyers were turned into a meme where trolls and nocoiners had the best time of their life making fun of people who did invest in Bitcoin

It's more likely the more traditional investors have a small but noteworthy exposure to it in secret. If it turns out to be a rubbish investment, no one around them will know about it. If they make big profits they'll happily share it afterwards.

o_e_l_e_o

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"Planning to invest" by 2022 means nothing. If the price grows by a steady 5% per month every month for the next couple of years, with adoption growing and large institutions getting involved, then by 2022 all those "planning to invest" will almost certainly have invested. If, on the other hand, the price falls by a steady 5% per month, with bitcoin being made illegal across the world, then barely any will.

There is no breakdown between "have invested" and "planning to invest", and no statistics for "how much you have invested or are planning to invest". 68% of millionaires planning on investing $1000 again means nothing.

In short, this article tells us next to nothing unless there are some more data forthcoming.

Betwrong

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Quote from: Lucius on May 04, 2019, 07:47:34 AM

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Some data say that today in the world is around 35 million people who have 1+ million dollars, this is an incredible amount of money. The question is how much of them want to replace their fiat / gold / or any other asset with crypto. I would say that the clever ones among them have already done that.

Yes, I think this number is pretty accurate, because according to Credit Suisse's Global Wealth Report 2017, there were 36 million millionaires in the world in 2017. Now I propose to think about one thing. If because of movies, news etc. to have 1 Bitcoin will be in vogue, many of those millionaires will desire to have one, not to profit from it in the future, but to brag before their friends, just like they do with expensive Swiss watches. And the funny part is that each one of them will not be able to buy 1 BTC because there are already more millionaires than the max supply of BTC. This thing alone can rise the price of Bitcoin to a startling level.

figmentofmyass

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Quote from: Lucius on May 04, 2019, 07:47:34 AM

So DeVere Group which have some $10 billion in assets is cited as an example how some rich individulas have invest or how they will invest their money in bitcoin, but also in some other coins. I think that's just speculation based on some survey which may have happened or maybe DeVere is want some free PR. They have 80 000 clients and only 700 is included in survey, it is far from a representative sample.

with a 95% level of confidence and a ±3.7% margin of error, 700 is an adequate sample size to draw conclusions about their clients. you really don't need that large of a sample to know where the rest of the population falls. whether their clients are representative of high net worth individuals globally though, i'm not sure. probably so.

Quote

68% of global high-net-worth individuals have already invested or are planning to invest in crypto by the end of 2022

i'm curious how many have actually invested vs those who plan to invest. talk is cheap!

Falgorn

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This is in any case very good information, since an increase in the number of cryptocurrency users and an increase in its capitalization is essential for increasing market demand, which will lead to an increase in the market as a whole and an increase in the price of our coins and tokens.
If big wallets enter this market, we will definitely see it in terms of the growth of the cryptocurrency market.

Lucius

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So DeVere Group which have some $10 billion in assets is cited as an example how some rich individulas have invest or how they will invest their money in bitcoin, but also in some other coins. I think that's just speculation based on some survey which may have happened or maybe DeVere is want some free PR. They have 80 000 clients and only 700 is included in survey, it is far from a representative sample. Another strange thing is that some of them have plans to invest in crypto by the end of 2022, so they think crypto is too expensive today?

Some data say that today in the world is around 35 million people who have 1+ million dollars, this is an incredible amount of money. The question is how much of them want to replace their fiat / gold / or any other asset with crypto. I would say that the clever ones among them have already done that.

anu1908

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Quote from: LeGaulois on May 03, 2019, 03:35:56 PM

The article does not claim that this is the result of the recent rise. It shows above all that there are hundreds of millions ready to be invested in the crypto market. Which is a good thing in itself. They are probably waiting to see more laws and a more defined framework before, it's a way to be reassured perhpas. The question is when?

seems like the image of bitcoin as a 'quick rich' scheme still lingers on people mind. i don't think that's a problem as it would eventually lead people to buy bitcoin and then hopefully it will become a very powerful store of value. when that does happen (and hopefully it will happens) we might see bitcoin break multiple ath and then stay stable for a while (just like gold).

CryptoBry

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Quote from: 1Referee on May 03, 2019, 01:12:00 PM

Investing in Bitcoin is cool and all, but if they don't believe in Bitcoin, they'll dump just as hard as they initially bought in.

I like the Grayscale's 'drop Gold buy Bitcoin' campaign ad. It's the first time a wealthy entity actually does high level marketing for Bitcoin, which is petty neat. Time will tell whether it will help them attract more capital, but it's at least raising awareness, making Gold bugs react to it in a not so friendly manner. Some people got their teeny weeny triggered. Cheesy

Grayscale at current levels holds $1.2 billion in Bitcoin, which is just over 210,000BTC. Not a joke.

These companies or entities are just looking at Bitcoin or cryptocurrency for that matter as investment vehicle or a way to make some fast money...and of course there is nothing wrong with it as this is an open market and they are doing the same with stocks, forex or other tools. Since they have the money to invest and the platform to do it at the touch of the button, they are presented with good opportunities to make some good bucks here. These are the people that can pump and likewise dump any digital asset anytime.

LeGaulois

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The article does not claim that this is the result of the recent rise. It shows above all that there are hundreds of millions ready to be invested in the crypto market. Which is a good thing in itself. They are probably waiting to see more laws and a more defined framework before, it's a way to be reassured perhpas. The question is when?

hatshepsut93

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The article and their source only say that the survey was made by deVere Group, but they don't link to it. The phrase "68% have invested or planning to invest" is not very exciting because we don't know how many have actually invested and how many are only planning. Maybe only 20% have invested and the rest is planning?

I've tried to find the source, and I've got this: https://www.devere-group.com/news/wealthy-look-to-increase-crypto-exposure.aspx

But it's the same as the article - no actual data, only comments from some guy. Looks kinda sketchy.

dunfida

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Quote from: NeuroticFish on May 03, 2019, 02:35:08 PM

Quote from: Janpie on May 03, 2019, 10:31:23 AM

68% of global high-net-worth individuals have already invested or are planning to invest in crypto by the end of 2022

This means literally nothing.
As said, they buy and dump and buy and dump, not holders, no believers, simply business men.
And they have so much money they literally invest in anything they can. The ultimate diversification. From so many fields, overall they cannot lose. And if any of the assets they invested in becomes a bad business they simply drop it. They do afford loses and they'll minimize the loses as soon as they can.

Actually it's more a bad news. They most certainly bought in when the prices were low. And when the targeted price is met, they'll dump and we will not understand what happened.

And that do leaves questions on mind on what do happen on such sudden price dump which these factors are inevitable possible to think off.I agree that this really means nothing
yet those percentage doesnt signify adoption but just purely investment and for those billionaires and millionaires will normally chose up things that would really benefit them and
crypto is one of the good options to take yet they do know the potential of profitability.

Quote from: davidtld on May 03, 2019, 12:00:28 PM

The key is adoption. Not buy and sell. They should invest in blockchain as part of the process of their companies.

No surprising thing its always been a business and adoption is just secondary.

NeuroticFish

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Quote from: Janpie on May 03, 2019, 10:31:23 AM

68% of global high-net-worth individuals have already invested or are planning to invest in crypto by the end of 2022

This means literally nothing.
As said, they buy and dump and buy and dump, not holders, no believers, simply business men.
And they have so much money they literally invest in anything they can. The ultimate diversification. From so many fields, overall they cannot lose. And if any of the assets they invested in becomes a bad business they simply drop it. They do afford loses and they'll minimize the loses as soon as they can.

Actually it's more a bad news. They most certainly bought in when the prices were low. And when the targeted price is met, they'll dump and we will not understand what happened.

1Referee

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Investing in Bitcoin is cool and all, but if they don't believe in Bitcoin, they'll dump just as hard as they initially bought in.

I like the Grayscale's 'drop Gold buy Bitcoin' campaign ad. It's the first time a wealthy entity actually does high level marketing for Bitcoin, which is petty neat. Time will tell whether it will help them attract more capital, but it's at least raising awareness, making Gold bugs react to it in a not so friendly manner. Some people got their teeny weeny triggered. Cheesy

Grayscale at current levels holds $1.2 billion in Bitcoin, which is just over 210,000BTC. Not a joke.

davidtld

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The key is adoption. Not buy and sell. They should invest in blockchain as part of the process of their companies.

Kemarit

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As per the article:

Quote

The survey has come amid the recent major bull market move, with bitcoin breaking the $5,800 threshold for the first time in 2019.

But I don't think that this is the main driver for the sudden up surge though. And it also says by 2022 so there's still a lot of "if" here. If the market is thriving in that year, so possible that some of them might go and invest, however, those people are smarter, if they see that the market is going downwards they I'm sure majority of them have second doubts in pouring their money long term.

Janpie

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68% of global high-net-worth individuals have already invested or are planning to invest in crypto by the end of 2022, according to a survey by Dubai-based financial consultancy firm deVere Group released on May 3.

DeVere group has more than $10 billion in assets under advice, with more than 80,000 clients located in more than 100 countries.

More than two-thirds of global individuals whose assets’ value is equivalent or greater than 1 million British pounds (GBP) or $1.3 million, will be invested in cryptocurrencies such as bitcoin (BTC), ether (ETH), and ripple (XRP), the report notes.

The new survey included more than 700 deVere clients as respondents, located in major global countries such as the United States, the United Kingdom, Australia, Japan, Qatar, Switzerland, Mexico, Hong Kong, Spain, France, Germany and South Africa and the United Arab Emirates.

Read more: https://cointelegraph.com/news/68-of-global-millionaires-already-invested-or-plan-to-invest-in-crypto-by-2022-survey

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