The number of family offices looking to invest in cryptocurrencies is starting to grow, as they see the space as a hedge for the continued inflation uptick and monetary stimulus across the globe.
- A Goldman Sachs Group Inc. survey found that 15% of family offices are already invested in cryptocurrencies, and another 45% are open to pouring funds into the space.
- The respondents interested in investing in crypto see the space as a possible hedge for the inflation uptrend, the low rates, and other macroeconomic developments amid the COVID-19 pandemic.
- A number of family offices are also keen on investing in the digital asset ecosystem, with the majority looking to discuss blockchain and digital ledger technology.
- Several respondents noted that digital technology will become as impactful as the internet, while some noted concerns on the viability of long-term investments in the space.
Out of the respondents, 22% managed assets of at least $5 billion, while 45% managed $1 billion to $4.9 billion.
BTC is up 6.10%, ETH up 7.01%, and XRP up 6.79%.
Source: Bloomberg