The super-rich people smell the money before their morning coffee, but what’s their position towards crypto in an age where traditional economic models are being challenged?
The philosophy of decentralization that lies at the core of the cryptocurrency movement is consonant with many Millennial entrepreneurs’ worldviews. According to Wealth-X, in contrast to popular conceptions of wealth, most ultra-rich individuals across the globe are self-made, meaning that they have attained their success through education and hard work. Almost 90% of those with a general interest in crypto have created all their own wealth, with just 0.5% relying solely on inheritance.
A pronounced feature of crypto-focused millionaires is, according to Wealth-, their interest in technology and philanthropy. Carole Morgenthaler, a representative of Swiss private bank Lombard Odier, commented that the bank’s investment convictions are based on long-term growth and stability to ensure that the clients’ assets can grow and be passed down to future generations. She added, “Investing in cryptocurrencies does not currently have the required quality and guarantees.”
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