Crypto investors tend to be more entrepreneurial and risk-tolerant than average wealthy person: Wealth-X report
- The tendency towards entrepreneurship among the wealthy is even more pronounced among those with an interest in cryptocurrencies
- ‘Almost 90 per cent of those with a general interest in cryptocurrencies created all their own wealth’, says Wealth-X report
Wealthy individuals who are mainly involved in, or have some investment, in cryptocurrencies are considered more entrepreneurial than the rest of the affluent population, according to the latest report by research group Wealth-X.
According to Wealth-X, 84 per cent of the 3.6 million wealthy individuals in the world or those with a net worth of at least US$5 million, are self made with the remainder inheriting their fortunes.
This tendency towards entrepreneurship among the wealthy is even more pronounced among those with an interest in cryptocurrencies, according to the US-based wealth information and insights provider.
“Almost 90 per cent of those with a general interest in cryptocurrencies created all their own wealth, with just 0.5 per cent relying solely on inheritance,” according to the report.
“The data [also] shows that self-made wealthy individuals appear more likely to be open to investing in assets, such as cryptocurrencies, that are riskier and more volatile than other asset classes.”
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The report added that for those who generated their wealth via cryptocurrency related activities, it was no surprise that “inheritance hardly plays a role in the wealth source”.
