Daily Management Review

Forbes: Just 30% of billionaires invest in cryptocurrencies


According to a recent survey by American Forbes, about 30% of the world's wealthiest people invest in cryptocurrencies directly or indirectly, which is higher than the number of investors who aren't billionaires. The survey was attended by 65 billionaires.

Around 18% of them said they had at least 1% of their wealth invested in cryptocurrencies, with the majority of these people doing so as a test. Eighty percent of billionaires who invested in cryptocurrencies claimed they put less than a tenth of their money into it, while 3.2 percent said they put more than half of their wealth into it.

Another 10% said they didn't invest directly in cryptocurrencies but backed cryptocurrency-related businesses.

Despite this, many billionaires avoid investing in cryptocurrencies, even as a test.

"I believe Bitcoin is too volatile to invest in," said Jim Thompson, a Hong Kong millionaire worth $1.3 billion. "I don't think cryptocurrencies will ever replace the dollar," stated Florida billionaire David Hoffman ($1.3 billion fortune). He also stated that strong opponents of Bitcoin, such as JPMorgan CEO Jamie Dimon and Berkshire Hathaway founder Warren Buffett, had a profound influence on him.

source: forbes.com