Consultancy: More than a third of wealthy individuals are investing in cryptocurrencies

Over one-third of the world’s wealthy investors have put their money on cryptocurrencies or are about to do so, says financial consultancy deVere.

600-plus high net worth clients from around the world answered to deVere’s poll, and 35 per cent said they had exposure to digital assets or they plan to make investments in them by the end of 2018.

DeVere Group is one of the world’s largest independent financial advisors to high-net-worth clients.  It has over 80,000 clients and $12bn under advisement, so it has a good grasp of how the rich like to invest their money.

“The survey’s findings demonstrate that high net worth individuals are increasingly unable to ignore the huge potential of cryptocurrencies. There’s now surging public awareness of the value, need and demand for digital, global currencies in a digitalised, globalised world,” said Nigel Green, the founder and the CEO of deVere in a press release.

While cryptocurrencies remain a niche asset class, their rising popularity has made deVere to join the boom. The company has published an app, where the users can buy and sell nine different crypto assets.

“I expect that a broader awareness and understanding of the crypto sector will grow exponentially in the next year as the tech that underpins it further improves, as major corporations and financial institutions embrace it, and as regulation is further developed,” Green said.

For him, cryptocurrencies are “the future of money”.

“And, seemingly, this is a view increasingly shared by wealthy investors the world over,” he added.