60% of uber-rich family offices considering crypto or own it: Goldman Sachs
A survey conducted by Goldman Sachs reveals that close to half of its family office clients want to add cryptocurrency in their portfolios, signaling the ultra-wealthy are becoming increasingly bullish on crypto assets.
More than 150 family offices worldwide were surveyed, which revealed that 15% are already exposed to crypto-assets, according to the survey reported by Bloomberg.
A further 45% of participants expressed interest in investing as a hedge against “higher inflation, prolonged low rates, and other macroeconomic developments following a year of unprecedented global monetary and fiscal stimulus.”
However other respondents cited concerns regarding the volatility and long-term uncertainty surrounding the price of cryptocurrencies as reasoning for their aversion to the asset class.
From the total surveyed entities, approximately 67% manage more than $1 billion worth of assets, with 22% of respondents boasting assets under management exceeding $5 billion.
The report describes the business of family offices as managing “the wealth and personal affairs of rich people,” including the likes of Microsoft co-founder Bill Gates, former Google CEO Eric Schmidt, and Chanel owners Alain and Gerard Wertheimer.
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