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Millionaire Investors Believe in the Bitcoin Boom

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biticoinie

The cryptocurrency markets have spurred mixed emotions among different types of investors and traders throughout the world. Some have lost hope after succumbing to the recent crypto winter. However, wealthy investors still have faith in cryptos. They intend to pump more money into the market in the next three years inspired by the latest bitcoin boom.

A recent survey revealed that two in every three millionaires (68%) already have crypto or plan to add it to their portfolios by 2022. The confirmation of this research came from over 700 investors from 13 countries throughout the world. All the participants have at least £1 million of investable funds.

The research reveals that the wealthy are continuously diving into digital token markets. As the latest bitcoin boom attracts more investors, the universal acceptance of digital currencies is growing consistently. Cryptos are now regarded as the future of money as evident from the ever-increasing number of institutions entering the market.

The wealthy are now rebalancing their portfolios to include digital assets to avoid missing out on a major investment opportunity. The borderless nature of digital tokens interests investors due to an increasing worldwide commerce and trade network.

Afraid of Missing Out

Just like Amazon was to retail, crypto is the same as that to money. Those surveyed revealed that they would never want to be the last to get onto the ship. Apart from the fear of missing out on a viable investment opportunity, other factors behind investor demand for virtual currencies include their borderless nature.

Other factors include the emergence of digitalization and considerable ‘real-life’ opportunities. A major opportunity driving high-net-worth investors and some institutions is banking the over two billion unbanked global citizens. The digital currencies are well-suited to enhance digitalization around the world. Digitalization, which many refer to as the fourth industrial revolution, will change how the world relates forever.

Confidence Boost

Demographics favor cryptocurrencies since more young people will most likely embrace them than the older generations. Moreover, some analysts believe that the latest bitcoin boom came from more institutional investors coming off the sidelines. The institutions are continuously bringing their institutional capital and expertise to the growing crypto market.

The optimism among these investors come as Bitcoin hovers around the $8,000 handlefor the first time in months. Having tested the crucial price support band recently, the largest crypto will enhance confidence for the general digital assets market. After the confidence takes a firm grip, the sky is the limit for this nascent market. More institutional and retail investors keep accepting digital tokens as the future of money.

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