Maybe it's just newly printed brrrr money in HNWI pockets.
They mostly buy stocks with it, but maybe 1% gets converted into bitcoin.
"HNWIs are cautiously interested in holding cryptocurrencies: globally, only 29% of them show a high level of interest, while 26.9% say they are quite interested. The potential of cryptocurrencies, in terms of both investment returns and store of value, is acting as a driver of interest for HNWIs, especially among the youngest. In fact, 71.1% of those under the age of 40 attach great importance to receiving information on cryptocurrencies from the major asset management companies, compared to 13% of HNWIs over the age of 60. But when it comes to providing information on these types of instruments to HNWI clients, wealth management firms have been ambivalent, with only 34.6% of HNWIs globally claiming to have received such information from their wealth managers."
Are you a HNWI interested in Bitcoin? Ask your dedicated Wealth Manager! He will steal you juicy fees for letting you become a HODLer.
Data from
https://www.capgemini.com/wp-content/uploads/2018/06/Capgemini-World-Wealth-Report.pdfNOT only is that report from mid-2018, so more than two years old and a lot of matters have been changing in the bitcoin/crypto space in two years, but also there may be a lot of gobbledy-gook contained therein, not only in terms of what kind of information some wealth manager might be willing to provide but also financial vehicles that they consider to be practical, and direct investing in bitcoin would probably not be one of the ways that they would recommend HNWI to be investing, even if it is a relatively small allocation such as 1% and would they even be going so bold as to even considering some kind of investment into bitcoin that would be so high as 10%, even though that could be a reasonable and prudent approach for some HNWI.
Another aspect is the cryptocurrency language that is used in the article, which causes me to wonder even if they understand the difference between bitcoin and shitcoins - which is largely a necessary angle of understanding in order to even be attempting to engage in long term investing rather than throwing darts kind of gambling.
On the other hand, there is probably some kind of point to the fact that more and more attention is getting paid to bitcoin and it is leaking to the HNWI - even though many of them are still likely receiving so much misinformation that the information that they are receiving is skewing their thoughts in such a way that they HNWI may at some point realize that they better engage in a bit of their own research rather than being limited and channeled by the supposed expertise of wealth managers, in which likely only a fraction of the wealth managers are providing realistic information, when it comes to what bitcoin actually is, how bitcoin is differentiated from shitcoins and also what place bitcoin and/or shitcoins might play in terms of the broader market, whether referring to the relation to gold and other PMs or stocks and bonds.
I hate to overly generalize, but it seems that likely the more reliant that HNWI are upon money/wealth managers, the more likely that regular peeps are going to be able to front run them in terms of getting into bitcoin before them. Many of us who are active in this thread have already engaged in a decent amount of front running of such HNWI - and surely, little by little they are going to figure out that some combination of direct investing in BTC might be prudent, even though maybe a lot of them who might be connected to businesses or other traditional investment vehicle limitations might handicap themselves if they are totally reliant on having to go through those traditional investment vehicles that are still developing in the bitcoin space.... oh and some of them will end up getting distracted in some kind of hybrid combination of bitcoin and various shitcoins, which likely is not going to work out as well as buying bitcoin directly, so we surely are going to continue to see a learning process regarding the entrance of HNWI into this space that may frequently be through various investment vehicles that are touted by their wealth/money managers.
