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U.S. Research Institution: Self-made billionaires are more interested in cryptocurrency investments and more willing to make charitable donations.

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U.S. Research Institution: Self-made billionaires are more interested in cryptocurrency investments and more willing to make charitable donations.

According to a study by the wealth research firm Wealth-X, as the acceptance of cryptocurrencies increases, self-made wealthy individuals around the world are more likely to invest in cryptocurrencies such as Bitcoin. This signifies that cryptocurrency investments are becoming increasingly popular among wealthy individuals as an option for financial investment.

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Wealth-X released a investment analysis on global wealthy individuals investing in cryptocurrency on the 10th.

The term "wealthy" in this report refers to individuals with a net worth of $5 million or more, including those in the cryptocurrency industry and those with a general interest in the industry. According to Wealth-X's survey results, as many as 94% of wealthy cryptocurrency entrepreneurs have built their wealth from scratch.

Therefore, Wealth-X analysts pointed out that the data indicates that self-made wealthy individuals are more willing to invest in high-risk and volatile cryptocurrencies.

The report also identified several characteristics of entrepreneurs enthusiastic about investing in cryptocurrency:

  • They have a higher affinity for charitable donations compared to the general wealthy population
  • Wealthy individuals investing in cryptocurrency show a higher interest in technology compared to other wealthy individuals
  • Self-made wealthy individuals seem to be more open to investing in cryptocurrencies
  • Entrepreneurial spirit is more prominent among wealthy individuals focusing on cryptocurrency investments

Over the past two years, the cryptocurrency industry has flourished, leading to rapid inclusion of industry professionals and entrepreneurs in the global rich list. For example, Sam Bankman-Fried, CEO of FTX cryptocurrency exchange, became the richest self-made newcomer in the history of the Forbes 400, amassing approximately $10 billion in cryptocurrency assets in just three years as of early 2022.

This article is republished with permission from Horizon News Network