Are cryptocurrencies becoming popular among high-net-worth investors? Some recent developments indicate that the attitude of high-net-worth investors towards crypto has undergone a radical shift.
Notably, a recent statement by TIGER 21 founder and chairman Michael Sonnenfeldt aligns well with the aforementioned assumption.
TIGER 21’s Bold Crypto Move
While speaking with media persons, Sonnenfeldt revealed that cryptocurrencies make up at least 1% to 3% of his firm’s investment portfolio.
TIGER 21 handles no less than $200 billion. This means that the firm has approximately $6 billion invested in crypto.
Additionally, the TIGER 21 chairman stated that some of its members are fully invested in crypto.
TIGER 21 is more like an exclusive club of high-net-worth investors. It operates on an invitation-only model. To be eligible to receive an invitation to the group, one must have at least $20 million worth of investable assets. Currently, the investment firm has no more than 1,600 members.
Bitcoin: The New Digital Gold?
Interestingly, Sonnenfeldt likened Bitcoin, the largest cryptocurrency by market cap, to gold. Highlighting Bitcoin’s capability to combat the threat of economic uncertainty, he pointed out how people in economically shattered countries like Argentina and Lebanon use Bitcoin as a store of value.
TIGER 21’s Crypto Investment: A Sign of the Times
The political stance in the US towards the cryptocurrency industry shifted in favour of the sector following the victory of Donald Trump over Kamala Harris. The newly inducted Trump administration recently initiated strong measures to establish a clear crypto regulatory framework.
Experts think that the initiatives taken by the new US regime to create a clear regulatory framework for digital assets may have influenced many high-net-worth investors to rethink their approach to cryptocurrencies.
Beyond Crypto: TIGER 21’s Investment Strategy
Though TIGER 21 maintains a welcoming attitude towards new-age investment arenas like cryptocurrencies, it still focuses on traditional assets like real estate and private equity.
The Crypto Market Landscape: An Overview
At the start of this month, the total market cap of crypto was at $3.45T. In the first two days of the month, the market experienced a considerable fall of 8.09%. Though on February 3, the market climbed by over 3.13%, between February 4 and 5, the market slipped by 5.16%. Currently, the market stands at $3.16T – at least 8.93% below the monthly peak.
In conclusion, TIGER 21’s growing crypto investments signal a changing trend among high-net-worth investors. With a shifting US regulatory landscape and increasing recognition of Bitcoin as a store of value, institutional interest in digital assets continues to rise. While crypto remains a small part of TIGER 21’s portfolio, its increasing role suggests that more elite investors may follow suit, shaping the future of crypto adoption in the financial world.
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