30% of the polled billionaires have some kind of exposure to crypto as 3.2% have converted over half of their wealth into the asset class.
The global media company Forbes questioned 65 of the world’s wealthiest people to find out what chunk of them are part of the cryptocurrency ecosystem. Per the results, 30% have directly or indirectly invested in digital assets.Some of the wealthiest individuals like Warren Buffett and Jamie Dimon are firmly against the cryptocurrency industry, vowing never to interact with it. Last month, the formerconducted by Forbes estimated that many other billionaires do not share Buffett’s vision.
Approximately 18% said they had allocated at least 1% of their fortune into the asset class, 80% stated cryptocurrencies account for 10% of their portfolios, and 3.2% have invested over half of their possessions. The remaining 10% have not directly invested in bitcoin or altcoins but had backed exchanges, managers, or service providers part of the industry.
It is worth noting that one of the questioned individuals was the Co-Founder and CEO of FTX – Sam Bankman-Fried. He reportedly told Forbes that between 76% and 100% of his net worth is converted into crypto.Another billionaire part of that club is Mark Cuban.
“It’s no different than investing in stocks, bonds, other assets. Interest rates go up, risk assets go down. My tech stocks have performed worse than my crypto has.”When speaking of wealthy individuals who are intrigued by the digital asset sector, one should mention Elon Musk. Last summer, Tesla’s CEOhe won’t part with his crypto holdings. He also touched upon the record inflation which reigns in many regions across the globe.
“As a general principle, for those looking for advice from this thread, it is generally better to own physical things like a home or stock in companies you think make good products than dollars when inflation is high.”
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