Main menu

Pages

Cryptocurrency millionaires are now buying these assets instead of luxury cars



The narrative that early Bitcoin investors indulged in expensive luxury goods like Lamborghinis is changing.


Recent research suggests that cryptocurrency millionaires are now directing their new wealth into real estate investments, indicating a more mature spending pattern.


Bitcoin millionaires are growing


According to To study Involving researchers from prestigious institutions such as Brigham Young, Northwestern, and Imperial College London, the rise in crypto wealth has had a significant impact on the US real estate market.



Their analysis, submitted to the Federal Deposit Insurance Corporation, used data from 60 million people over 13 years. It found that around nine cents fueled household spending for every dollar of unrealized crypto gains.


While social media often glorifies lavish spending on luxury cars and jewelry, the actual economic impact of cryptocurrency wealth has been more nuanced. The study highlights the tendency of millionaires to... Cryptocurrencies To invest in housing. This resembles traditional stock market investments rather than ephemeral lottery winnings.



“Our estimates suggest that household spending from crypto gains is more consistent with traditional stock investment models,” noted Darren Aiello, assistant professor of finance at BYU.



This trend was particularly evident in 2017 when... Bitcoin rose From around $950 to $14,000. Researchers found that housing prices increased much faster in areas where cryptocurrencies were heavily involved than in areas with less cryptocurrency focus. Specifically, home values ​​in these cryptocurrency-rich counties increased by an additional 43 basis points year-over-year.


Additionally, a separate analysis of crypto brokerage withdrawals showed that large amounts withdrawn led to increased housing expenses shortly after.



“For every household that withdrew $5,000 from their cryptocurrency exchange account, one in 20 purchased a home for the first time,” explained Jason Cotter, another finance professor at BYU.



Reflects the shift towards real estate investment between Bitcoin Millionaires A strategic approach to wealth management. This differs from the stereotype of frivolous spending.


Best Cryptocurrency Trading Platforms






Of confidence



Disclaimer


All information published on our website is offered in good faith and for general information purposes only. Therefore, any action, behavior or decision taken by the reader in accordance with this information is solely the responsibility of itself and its affiliates individually, and the site assumes no legal responsibility for such decisions.





أخبار

Comments