According to Tradingplatforms.com, 71% of 2973 HNWIs (high net worth individuals) polled globally have invested in digital assets.

The survey interviewed people with a net worth ranging from $1-million to $30-million, with 54% in the first group and 46% in the second.

“The findings show that HNWIs have embraced cryptocurrencies and other digital assets,” says Edith Reads, financial analyst at Tradingplatforms.com. “With 71% of wealthy individuals investing in digital assets, and this figure set to rise to 79% by 2022, it’s clear that cryptocurrencies are here to stay.”

According to Tradingplatforms, there are three main reasons for this: cryptocurrencies offer investors a way to diversify their portfolios; they’re seen as a hedge against inflation, as their value is not tied to any one country or fiat currency; and they are considered an excellent long-term investment and offer more privacy than traditional investments.

“Cryptocurrencies are especially appealing to younger generations as they enter their prime earning and investing years,” says Reads. “This is a key demographic the crypto industry should target.”

Despite the ongoing pandemic, Covid had little impact on how the world’s wealthiest investors chose where to put their money. Cryptocurrencies were one of the few asset classes to see an increase in investment during 2020.

This suggests that HNWIs see cryptocurrencies as a long-term investment rather than a quick way to make money. And, with more and more institutional investors entering the space, the crypto market could be expected to continue to grow.