Wealth report: As old money procrastinates, young money goes crypto
The development of the cryptocurrency industry could not go unnoticed by the global rich. Where do the ultra-wealthy stand on crypto? The rich get richer. According to the Wealth-X consulting company, in 2020, the number of ultra-high-net-worth individuals worth $5 million–$30 million in the world increased by 1.7% to 295,450 people; the combined net worth of this group increased by 2% to $35.5 trillion.Observing the investment preferences of rich individuals and institutional investors is instructive. They have access to exclusive information and analytics to inform their investment....
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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....
A recent report from the Annual Economic Report came with several insults on Bitcoin. According to the report, crypto is not money but a speculative asset. One which carries no real value. It highlighted that Bitcoin and other cryptocurrencies have very few redeeming qualities when it comes to the public good. “By now, it is […]
Is it possible to be laundering money with Bitcoin if it’s not legally considered money? A court case in Florida may be about to give us an answer. Can’t Launder Money If It’s Not Money. The by-now infamous case concerns Michel Espinoza, a young computer programmer and early bitcoin trader arrested in January 2014, and later charged with dealing in....
The billionaire warns about incoming asset inflation while recommending Bitcoin and gold as he continues warming to cryptocurrency. Bitcoin (BTC) can offer protection against the "depreciating value of money," newly-bullish investor Ray Dalio says.In a Reddit "Ask Me Anything" session on Dec. 8, Dalio, who last month abandoned his skepticism of Bitcoin, said that the cryptocurrency could complement gold as an investment.Dalio: Bitcoin "could be diversifier to gold""I think that bitcoin (and some other digital currencies) have over the last ten years established themselves as interesting....
A look at the many ways that cryptocurrency can help to solve the problems associated with global income equality. Over the past few decades, the inequality of wealth distribution globally has become all the starker.For example, as of 2022, the top 10% of Americans hold nearly 70% of US wealth. This means that 90% of the country only takes home 30% of the wealth. South Africa is another example, with the top 10% taking home 65% of the wealth. Many citizens also lack access to general banking as well as high-class financial services (i.e., services limited to accredited investors) that are....