Published On: Mon, Apr 9th, 2018

Bitcoin’s Richest Could Own a Significant Part of Global Wealth

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Credit Suisse’s latest estimates indicate that for the first time the richest 1% own 50.1% of all global wealth, a proportion that’s likely to move to the richest 1% owning two-thirds of global wealth by 2030.
World’s Rich Getting Richer
Global wealth inequality had improved between 2000 and the financial crisis of 2007-2008 but the trend since has seen global wealth statistics shifting. The top 1% of individuals have gained a greater proportion of the world’s total wealth.

Projections in a report by the UK Parliament suggest that the world’s wealthiest individuals, the top 1%, will own 64% of global wealth by 2030.
Since 2008, the wealth of the richest 1% has been growing at an average of 6% a year – much faster than the 3% growth in wealth of the remaining 99% of the world’s population. Should that continue, the top 1% would hold wealth equating to $305tn (£216.5tn) – up from $140tn today.
The Wealthy are Investing
The House of Commons report goes on to suggest:
Wealth has become concentrated at the top because of recent income inequality, higher rates of saving among the wealthy, and the accumulation of assets. The wealthy also invested a large amount of equity …

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