Among the positive news is that January 2023 was one of the best months in terms of returns for Bitcoin in the cryptocurrency's history. According to analysts, the value of BTC rose by almost 40 percent during that month.

The volume of inflows to cryptocurrency projects is also breaking records, with analysts at investment firm CoinShares noting the highest since July of the previous year. Accordingly, it can be assumed that investors' interest has increased on the back of rising exchange rates. This means that they have seen the opportunities in this area and decided to join in, which has moved the market even more noticeably upwards.


Here is Bitcoin’s corresponding monthly return chart.

Bitcoin exchange rate movements by month

As you can see, the best January for BTC was only in 2013. Moreover, similar figures earlier in the year ended with a positive year for the industry as a whole.

Who invests in cryptocurrencies

According to deVere Group’s criteria, investors with more than $1.2 million available for investment are considered wealthy clients. At least 8 out of 10 of such clients asked deVere Group representatives about investing in digital assets. That means they saw an opportunity to invest in cryptocurrencies after a prolonged and severe market crash, which usually turns out to be the best time to invest.

Nigel Greene, CEO and founder of deVere Group, noted that wealthier investors have traditionally been considered a conservative client group. However, they are attracted to Bitcoin’s fundamental properties – “digital form, ability to make payments anywhere in the world, decentralisation and sustainability”.

Also, a particularly relevant distinction of the first cryptocurrency today is its fixed rate of inflation. However, with every block the amount of BTC in circulation increases by 6.25 bitcoins, and tentatively in the spring of next year, due to the so called Halving, the rate will be halved to 3.125 BTC.

Bitcoin exchange rate in the last 30 days

Green is confident that interest in crypto in the investor category in question will continue to grow for the foreseeable future. Here’s a relevant rejoinder from the expert.

Bitcoin posted its best return since 2013 in January on hopes that US inflation has peaked, monetary policy has become more favourable and various crises in crypto, including high-profile bankruptcies, are now behind it.

According to Cointelegraph’s sources, similar studies from previous years show a clear upward trend in millionaires’ interest in crypto. The company’s 2020 study found that 73 per cent of the 700 wealthy clients surveyed either already own cryptocurrencies or plan to invest in them by the end of 2022. In the 2019 study, the same figure was at 68 per cent.

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As we already noted, last week the inflow of funds into the crypto industry reached its highest since last July, with the amount of investment approaching the $117 million mark. CoinShares analysts published the dynamics of this indicator by week in a fresh article.

Total assets under management within the industry rose to $28 billion, up 43 percent from the lows of November 2022. The largest inflows came from investors in Germany, who accounted for 40 percent of the total, or $46 million. Canada, the United States and Switzerland were next with $30 million, $26 million and $23 million respectively.

Inflows to the industry by week

The analysts’ report also noted that for the ninth week in a row, outflows from multi-asset investment products continued, amounting to $6.4 million. According to James Butterfill, head of research at CoinShares, this suggests that investors are opting for more selective investments.

Overall, the digital asset market saw significant growth last week, with investment products experiencing record inflows and volume increases. The overall trend suggests that investors are becoming more careful in their choice of assets to invest in, with sentiment on digital assets tending predominantly towards optimism.


It is important to note that there are plenty of opponents of cryptocurrencies among affluent investors as well. JPMorgan Bank chief executive James Dimon is particularly popular among them. As it became clear thanks to a January interview with CNBC, Dimon has not changed his attitude towards BTC.

Alas, James' reasons for not liking digital assets are questionable. In particular, he is not sure that Bitcoin's maximum supply will really be 21 million coins. According to him, the cryptocurrency's creator Satoshi Nakamoto could allegedly easily increase this volume when no one would expect it. Apparently, Dimon doesn't understand peculiarities of BTC code and how nodes work in the network that accept predefined rules and guarantee their execution. So, the scenario described by James is out of question, especially considering the fact that the last bitcoin will be mined in 2140, and Satoshi simply will not survive till that time.


A virtual corner of JPMorgan bank in the Decentraland meta-universe


We think that such approach of millionaires looks absolutely logical, because it is more promising to buy assets after their collapse rather than a noticeable growth. That said, many crypto enthusiasts don't do so for a variety of reasons. For example, they are afraid of further collapse or they are already sitting in positions and do not have additional capital along with a chance to buy more assets. So, there is nothing strange about what is going on. Well, fans of decentralized assets can only be glad that experienced investors see serious potential in them and are willing to risk their own money for the sake of accumulating coins in the bear market.