Introduction
A new survey undertaken by Devere Group, a leading Financial Advisory company states that nearly 75% of all millionaires have already invested in Bitcoins or are planning to do so in the next few years.
Just to be clear, the survey did not have ten or one hundred respondents. It was done with 700 of the richest individuals in North America, Asia, and Europe.
If the results of 2020 are anything to go by, experts predict that Bitcoin will keep rising well past the $20K mark in the first months of 2021. Many Wall Street billionaires who have also invested in the crypto state the figure to be somewhere close to the $100k range! You can read more hereabout marketedly.com the projections.
So, Bitcoin is very much in demand by the richest individuals and families in the world. Apart from just growth margins, what are some other factors driving these people to invest in Bitcoins and other cryptocurrencies?
List of Five Major Reasons Why Millionaires want to get their hands on Bitcoin
- Anything to do with Digital is promising-
If the Silicon Valley case study has shown us anything, it is that successful digital platforms have the potential to turn into billion-dollar investments. Bitcoin is nothing but Digital or Internet Money. Its form, efficacy, and functionalities are determined by its digital ecosystem.
Millionaires do not want to lose out on investing in the digital landscape. In terms of a proposition, Bitcoin scores high, and closer examination reveals that it has its fundamentals more sorted than even traditional fiat currencies. This makes for an added attraction.
- The Latest Tech on offer and its Adoption-
While Bitcoin in itself is quite a revolutionary new piece of tech, investors are also keenly interested in exploring the potential of Blockchain Technology. Studies have shown how the adoption of Blockchain in different industries can be highly beneficial.
By investing in Bitcoins, you are also investing in an indirect fashion in the tech of Blockchain. Millionaires are going one step ahead and picking up equity in small and enterprising start-ups experimenting and working on Blockchain technology.
- Hedge against Inflation-
Most millionaires aim at diversifying their portfolios, with an eye on inflation. Traditionally, investors had only gold as an option as a hedge. However, the recent pandemic surge of Bitcoins has shown that it is far more capable of weathering an inflation episode.
Millionaires are concerned about protecting the value of their assets. They know that options like real estate, stocks, government bonds, and in fact even gold cannot give them security and growth at the same time. This is why most are now preferring to opt for Bitcoins.
- Promotion of a Borderless Financial World-
If you ask any seasoned businessman who has successfully achieved a lot, they will say that barriers to commerce and trade need to be reduced. One specific aspect in this regard is the world’s financial systems. The promise of Bitcoin is in alignment with their demands.
These millionaires are also businessmen who want lesser fees to be deducted, the promotion of better efficiency and faster turnaround times. They too are frustrated with governmental policies and slow bureaucrats holding up businesses just because they can do so.
- Frustration with the Government and other Authorities-
From tax relief to complicated business processes and financials, the world’s richest are fed up with their respective governments and their policies. Rather than decreasing the barriers to trade, most governments fuelled by their own internal political propaganda and increasing barriers.
This is making the conduct of business far more difficult. Some millionaires also stated that all the financial and economic benefits of globalization are being lost because of the inward-looking policies of most national governments. This is fuelling their belief towards a decentralized Bitcoin.
The Final Word
The last few years have been very interesting for cryptocurrencies in general and Bitcoin in particular. Rising investor confidence from the rich has accorded some level of stability to the previously criticized volatile nature of Bitcoin. Can you list some more reasons, which can prove why millionaires are trying to invest in Bitcoins like never before? Drop your answers in the comments section below.
