Self-made wealth more likely to flow into crypto than inherited: Report
94% of wealthy crypto entrepreneurs have made their wealth purely on their own, a new report suggests. Self-made wealthy individuals worldwide appear more likely to invest in cryptocurrencies like Bitcoin (BTC) as opposed to those who hold more of inherited wealth, a new survey suggests.Wealth-X, a research startup focused on wealth information, released on Thursday a new report on the peculiarities of crypto investments made by wealthy people worldwide.This report is devoted to wealthy individuals with a net worth of $5 million and more, including those who are professionally involved in....
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JMP Securities has predicted that “$1.5 trillion of incremental capital” could flow into bitcoin, an amount greater than the cryptocurrency’s current market cap. The firm sees more wealth management companies following Morgan Stanley’s example to offer bitcoin to their clients. “Around $30 trillion of assets in the U.S. retail wealth management industry currently do not have direct access to bitcoin,” he said. $1.5 Trillion Could Flow Into Bitcoin, Analyst Says San Francisco-based financial services firm with offices nationwide JMP Securities said last....
According to a report by Aspen Digital, crypto assets are becoming increasingly popular among Asian private wealth managers, as 76% said they are investing in cryptocurrencies. Potential Upside Leading To Greater Interest In Crypto Titled “Asian Private Wealth in Digital Assets,” the report sheds light on the rising adoption of digital assets among Asian private […]
Flow Foundation is asking a Seoul court to halt the delisting of FLOW on South Korea’s biggest crypto exchanges. Related Reading: Binance And Founder CZ Cleared As Judge Tosses Terror Financing Case – Details FLOW Fights Back In an announcement made on March 8, Flow Foundation and Dapper Labs (a venture‑backed Web3 company best known […]
The crypto world now boasts a staggering 88,200 crypto-millionaires scattered across the globe, according to the latest Crypto Wealth Report. This burgeoning class of wealth holders has seen their fortunes swell thanks to the ever-expanding digital asset universe. Astonishingly, half of these newly minted millionaires have pinned their financial dreams on Bitcoin (BTC), the world’s […]
Starting in the year 2022, donated or inherited virtual assets will be assessed and taxed accordingly, South Korea’s National Tax Service has said. Dunamu, Bithumb Korea, Korbit, and Coinone are the new virtual asset service providers (VASPs) tasked with evaluating digital assets for such tax purposes.
Virtual Asset Service Providers Tasked With Evaluating Crypto Gifts
South Korea’s National Tax Service (NTS) recently announced that starting in 2022, digital assets that are inherited or donated will be taxed, a report has said. It added that such digital assets....