HNIs From India Are Massively Choosing Bitcoin Over Altcoins

A new survey by the Financial Express revealed that high net-worth individuals (HNIs) from India, massively prefer to invest in bitcoin.

As in many developing countries, real estate is the most preferred investment by rich Indians. Many of the so called “super-rich” however, have decided to also expand their portfolio by investing into cryptocurrencies.

Roughly 10% of the respondents stated that have plans to invest in cryptocurrencies within the next 3 years. This basically makes cryptocurrencies, the 4^th most preferred asset after respectfully real estate, stocks and fixed income.

NHIs in India massively prefer bitcoin

It’s clear however, that bitcoin is the most popular cryptocurrency with almost no competition. If bitcoin is taken out of the equation Indian NHIs seem to prefer Ethereum (ETH) and Ripple (XRP).

This interest however, isn’t something to note because only 6% of the respondents said that they are willing to invest in other cryptocurrencies. The Indian super-rich also seem to be more or less unaware of what cryptocurrencies seem to be.

Almost 50% of the respondents said they really don’t know much about cryptocurrencies at all. The HNIs who did posses some knowledge about cryptocurrencies expressed their preference for bitcoin investments with 29.15% going for bitcoin, 8.74% for Ethereum and 6.80% for Ripple.

Considering cryptocurrencies have been a largely discussed topic in India, it’s interesting to see that many Indian rich seem to be unaware of the situation. Last month, the Indian Supreme Court Slammed the Reserve Bank of India (RBI) over the alleged mistreatment of many crypto companies and customers during the ban.

You can also check out: