Inflows to crypto investments spike as 82% of millionaires sought crypto advice in 2022 Bitcoin BTC crypto
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“In 2022, the crypto market delivered its worst performance since 2018, with Bitcoin, the headline-grabbing market leader, falling about 75% during the year. The price drops came as investors reduced their exposure to risk-on assets, including stocks and crypto, due to heightened concerns about inflation and slower economic growth,” said Nigel Green, the CEO and founder of deVere Group.
The performance of Bitcoin so far in 2023 has only served to increase the interest of HNW clients in the crypto market as major legacy financial institutions like JPMorgan, BlackRock and BNY Mellon have begun offering crypto-related services to their clients. Investors in Germany accounted for 40% of all inflows , followed by Canada , the U.S. and Switzerland . The total assets under management for all investment products now stands at $28 billion, an increase of 43% from the November lows.
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