A new study shows that wealthy, successful people around the world invest in cryptocurrencies such as Bitcoin (BTC), as opposed to those whose wealth is largely inherited.

Wealth-X, a start-up research firm specializing in wealth information, released a new report on Thursday on the specifications of cryptocurrencies made by wealthy people around the world.

This report is intended for wealthy people with a net worth of $ 5 million or more, including those professionally involved in the crypto industry and those interested in this sector in general.

This report is based on data collected for the Wealth-X Property Database, including information and research from wealthy individuals conducted in January 2022. The report specifically analyzes the affluent population model, which statistically provides estimates of total private wealth and population estimates. the report indicates the level of wealth and investment assets in the world and each of the 70 largest economies and 200 cities.

According to the results of Wealth-X, up to 94% of wealthy crypto-entrepreneurs earned their own fortune, and no one relied solely on inheritance.

The report notes that among those with a general interest in cryptocurrencies, almost 90% earned themselves, while 0.5% relied on inherited wealth. The report also notes that the majority of the wealthy, or 84%, are self-employed.

Source: Wealth-X
“The data show that self-employed wealthy people are more open to investing in assets such as cryptocurrencies, which are considered more risky and more volatile than other asset classes,” Wealth-X analysts note in the report.

“Since they generated their wealth with cryptocurrencies, it is not surprising that genetics play a role in the source of wealth for institutional or cryptocurrency investors,” the researchers added.

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The crypto industry has produced some of the richest people in the world. Sam Bankman-Fried, CEO of the cryptocurrency exchange FTX, is considered the richest newcomer in Forbes 400 history. As Cointelegraph previously reported, he collected nearly $ 10 billion of net worth in just three years. years in cryptocurrency from the beginning of 2022.

Source: CoinTelegraph