Study reveals that vast majority of wealthy crypto investors and enthusiasts are entrepreneurs
A conversation about cryptocurrencies may be based on little more than passing interest for some clients, but wealthy entrepreneurs may be more enthusiastic.
Among wealthy individuals who have a general interest in – or already invest in – cryptos, around 9 in 10 are self-made according to a new report from Wealth-X. That’s slightly higher than the self-made share of the overall wealthy population.
While Elon Musk may be a high-profile example of this cohort, the report highlights the interest of those with a net worth of US$5 million or more, including investors in - and those with a professional interest - in cryptos.
The report notes that, among those who are founders or investors in the crypto industry, 9 in 10 are men and the cohort is also younger (average 47.5 years) compared to the general wealthy population (60.5 years). Those with a general interest in cryptos are most likely to be in the 50-70 age range with an average range of 53.7 years.
Philanthropic investors
Wealth-X also found that those who are founders/investors in the crypto industry or with a general interest in the asset class, are more likely to be philanthropic.
More than 62% of these groups have given at least one single gift of $10K to charitable causes in the last five years, compared to 54.5% of the general wealthy population.
As crypto moves towards the mainstream, it's gaining popularity among wealthy individuals as an investment. Wealth-X's latest report, Crypto Investment And the Wealthy, explores the traits of the wealthy investing in this sector. Download it for free - https://t.co/8kvzaeAvS9 pic.twitter.com/45eI66Yn52
— wealthx (@WealthX) March 10, 2022
