Global media company Forbes polled the 65 richest people in the world to find out how many of them are part of the cryptocurrency ecosystem. According to the results, 30% directly or indirectly invested in digital assets.
Billionaires love cryptocurrency more than non-billionaires
Some of the richest people, such as Warren Buffett and Jamie Dimon, strongly oppose the cryptocurrency industry, promising never to interact with it. Last month, the former declared that he would not buy all the bitcoins in the world for even just $25.
However, recent study Forbes estimates that many other billionaires do not share Buffett’s vision. One in three participants admitted to having direct or indirect investments in cryptocurrencies, which is higher than those with a net worth of less than $1 billion.
Approximately 18% said they have invested at least 1% of their wealth in the asset class, 80% said that cryptocurrencies make up 10% of their portfolios, and 3.2% have invested more than half of their wealth. The remaining 10% did not directly invest in bitcoin or altcoins, but supported exchanges, managers or service providers that are part of the industry.
It’s worth noting that one of those interviewed was FTX co-founder and CEO Sam Bankman-Fried. He reportedly told Forbes that between 76% and 100% of his net worth is convertible into cryptocurrencies.
Another billionaire from this club is Mark Cuban. Despite the market downturn, NBA team owner The Dallas Mavericks has revealed that its crypto holdings are in better shape than its tech stocks:
“It’s no different than investing in stocks, bonds and other assets. Interest rates are rising, risky assets are falling. My tech stocks have performed worse than my cryptocurrency.”
The richest person in the world is also a crypto investor
Speaking of wealthy people who are interested in the digital asset sector, Elon Musk should be mentioned. Last summer, the Tesla CEO revealed that he personally owns Bitcoin (BTC), Ether (ETH), and Dogecoin (DOGE).
Earlier this year, he argued that he would not part with his cryptocurrency holdings. He also touched upon the record inflation prevailing in many regions of the world. Musk believes that people should not hold fiat currencies during turbulent times, but should instead focus on physical objects:
“In general, for those who seek advice on this topic, it is generally better to own physical things, such as a house or shares of companies that you think make good products, than dollars when inflation is high.”
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Credit : cryptopotato.com