Self-made wealth more likely to flow into crypto than inherited: Report

cointelegraph.com:

Self-made wealthy individuals worldwide appear more likely to invest in cryptocurrencies like Bitcoin (BTC) as opposed to those who hold more of inherited wealth, a new survey suggests.

Wealth-X, a research startup focused on wealth information, released on Thursday a new report on the peculiarities of crypto investments made by wealthy people worldwide.

This report is devoted to wealthy individuals with a net worth of $5 million and more, including those who are professionally involved in the crypto industry and those who have a general interest in the sector.

As crypto moves towards the mainstream, it's gaining popularity among wealthy individuals as an investment. Wealth-X's latest report, Crypto Investment And the Wealthy, explores the traits of the wealthy investing in this sector. Download it for free - https://t.co/8kvzaeAvS9 pic.twitter.com/45eI66Yn52

This report is based on data collected for Wealth-X’s proprietary database, including information and research on wealthy individuals conducted in January 2022. The report specifically analyzes a wealthy population model that statistically produces estimates for total private wealth and estimates the size of the population by level of wealth and investable assets for the world and each of the top 70 economies and 200 cities, the report notes.

According to Wealth-X’s findings, as many as 94% of wealthy crypto entrepreneurs have made their wealth on their own, with no one relying purely on inheritance.

Among those with a general interest in crypto, nearly 90% were self-made wealthy, with 0.5% relying on inherited wealth, the report notes. The report also notes that the majority of the general wealthy population, or 84%, are self-made.

“The data demonstrates that self-made