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Crypto attracts self made money more than inherited: Report

According to a new survey, self-made affluent people are more likely to invest in cryptocurrencies like Bitcoin (BTC) than those who have inherited wealth. Wealth-X, a wealth research firm, presented a new analysis on the idiosyncrasies of crypto investments made by wealthy people around the world on Thursday.

This study is for affluent people with a net worth of $5 million or more, including those who work in the crypto industry professionally and those who have a general interest in the field. This study is based on data obtained for Wealth-proprietary X’s database in January 2022, which included information and research on wealthy individuals. The analysis examines a wealthy population model that statistically generates estimates for total private wealth and population size by level of wealth and investable assets for the world and each of the top 70 economies and 200 cities, according to the report.

According to Wealth-statistics, X’s up to 94 percent of affluent crypto entrepreneurs have amassed their fortune via their own efforts, with no one relying solely on inheritance.

Some of the world’s wealthiest men have come from the crypto sector. According to reports, Sam Bankman-Fried, the CEO of the FTX cryptocurrency exchange, has become the wealthiest self-made newcomer in Forbes 400 history.

Do you invest your own money in crypto or the inherited money? Comment below.

Also read: Justin Sun is accused of insider trading and manipulating the crypto market

Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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