| operations | | 0. | | 0. | comment |
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| 1. | | parent_author | "" |
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| parent_permlink | hive-167922 |
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| author | rtonline |
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| permlink | millionaires-focus-on-cryptos |
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| title | "Millionaires Focus on Cryptos" |
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| body | "According to research by financial consultancy firm deVere Group for 2022, millionaires are focusing on [cryptocurrencies](https://leofinance.io/@leoglossary/cryptocurrency), especially [Bitcoin](https://leofinance.io/@leoglossary/leoglossary-bitcoin). According to the results of the research, 82% of clients with investable [assets](https://leofinance.io/@leoglossary/leoglossary-asset) between £1m and £5m sought advice on cryptocurrencies. Despite the crypto market having a tough year in 2022, eight in 10 high-net-worth (HNW) individuals have asked their financial advisors to include cryptocurrencies like Bitcoin in their [portfolios](https://leofinance.io/@leoglossary/leoglossary-portfolio). [Source](https://www.devere-group.com/82-of-millionaires-seek-advice-on-crypto-as-bitcoin-soars/)
[Source](https://pixabay.com/illustrations/bitcoin-business-technology-3732876/)
The crypto market went through tough times in 2022, and as fear and anxiety escalated, Bitcoin lost almost 75% in the [bear market](https://leofinance.io/@leoglossary/leoglossary-bear-market). In the [crypto winter](https://leofinance.io/@leoglossary/leoglossary-crypto-winter), many [investors](https://leofinance.io/@leoglossary/leoglossary-investor), especially individual investors, exited cryptos, which kept the bear market alive. But some investors, especially wealthy investors, are aware that Bitcoin and cryptocurrencies are the future of money, so most of them do not exit cryptos, but rather they are eager to enter more. I don't have any proof, but my personal opinion is that in 2022 individual investors sold their assets mostly to wealthy investors.
It is not yet clear whether the bear market is over at the moment, but it seems clear that the crypto winter is starting to thaw in 2023. Bitcoin, which is the leader in terms of [market cap](https://leofinance.io/@leoglossary/leoglossary-market-capitalization), gained approximately 40% in 2023. Despite the difficulties and declines in 2022, it is quite remarkable that wealthy investors show such interest in Bitcoin and cryptos. Because as the crypto markets recover and continue to rise, the interest of wealthy investors in crypto will increase more. This indicates that the bull run that may start in the future may be much faster than the previous bull runs.
I don't know when the [bull market](https://leofinance.io/@leoglossary/leoglossary-bull-market) starts, but when it starts, I think it will not be difficult for Bitcoin to exceed $100,000. **What do you think?**
Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@rtonline/millionaires-focus-on-cryptos)" |
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