73% of surveyed millionaires want to own cryptocurrency, and bitcoin miners’ revenues hit an annual peak

73% of surveyed millionaires want to own cryptocurrency

The deVere Group surveyed more than 700 wealthy people worth over £1 million.

The results showed that 73% of them either already own cryptocurrencies or intend to invest in them by the end of 2022. In 2019, their number was 68%. The survey involved millionaires from the United States, Britain, Asia, Africa, the Middle East, Australia and Latin America.

DeVere Group founder Nigel Greene noted that among the respondents eyeing bitcoin there are representatives of the largest Wall Street banks. He explained the warming of their views by the fact that large companies such as PayPal and Square have recently adopted cryptocurrencies.

The number of new BTC addresses has grown sharply amid Bitcoin price rising

On November 18, the bitcoin rate reached a three-year high, due to which interest in the cryptocurrency rose sharply.

According to Glassnode, on November 18 the number of new BTC addresses registered in one hour reached 25,000, for the first time since January 2018. The all-time high was recorded in December 2017 at around 34,000, when the price set a new record.

Despite the growing interest in Bitcoin, it is still in its early stages of distribution. According to Changpeng Zhao, Binance exchange CEO, the current level of cryptocurrency adoption is only 0.1% — that is, only 1 person out of 1,000 owns the cryptocurrency.

Bitcoin miners’ revenues reach an annual peak

Bitcoin mining revenues returned to pre-halving levels when block rewards were double what they are now, according to Glassnode.

In mid-May, when the reward halved, the BTC price was around $9,000. On November 18, the exchange rate doubled to over $ 18,000, bringing miners’ profit, which includes block rewards and transaction fees, to $21.2 million per day, the highest in a year.

The previous peak was recorded on May 6 at $20.6 million. After the halving, the block reward fell from 12.5 BTC to 6.25 BTC, which caused miners’ income to fall to almost $7 million per day.



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store