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Poll: Crypto still popular among millionaires

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July 11, 2023

Cryptocurrencies remain popular with high net worth investors despite popular perceptions of "crypto winter" in 2022, according to a poll and analysis by deVere Group, an independent advisory, asset management and fintech organization, according to a press release.

85% of HNW investors surveyed reported that they invested or considered investing in cryptocurrency in 2023, up from 82% of HNW investors surveyed in 2022 on the same question, with the group containing deVere clients with between one and five million pounds of investable assets (approximately $1.29 million to $6.45 million).

"The half year crypto poll reveals that, despite the crypto market delivering its worst performance since 2018 last year, 2023 has seen a remarkable turnaround for digital currencies," Nigel Green, chief executive and founder of deVere Group, said in the release. "This sustained market bounce is quite incredible considering just how dark the 2022 crypto market was, with a string of serious headline-grabbing events triggering a domino effect of financial losses that led to a shattering of investor confidence in cryptocurrencies. Last year's price drops also came as investors reduced their exposure to risk-on assets, including stocks and crypto, due to heightened concerns about inflation and slower economic growth."