The founder of Tiger21 says the network of "ultra-rich" investors owns about $6 billion in cryptocurrencies.
The "ultra-rich" Tiger21 network holds $6 billion in crypto. Image: CNBC
Tiger21, a network of wealthy investors with a portfolio worth $200 billion, has allocated $6 billion to cryptocurrencies. The crypto investment currently accounts for 1% - 3% of Tiger21's total portfolio.
In an interview with CNBC on 02/05, Michael Sonnenfeldt, the founder and chairman of Tiger21, said:
"Gold is for traditionalists, Bitcoin is a bit newer, but they often play the same role. They are considered stores of value."
NEW: Michael Sonnenfeldt, the founder of Tiger21, reports that the ultra-rich are Bullish about #Bitcoin.
— Simply Bitcoin (@SimplyBitcoinTV) February 6, 2025
Don't let them get all the 🌽 pic.twitter.com/6Qa7bEMqbZ
According to Mr. Sonnenfeldt, Bitcoin and other digital assets are becoming important stores of value, especially in countries with unstable economies like Argentina and Lebanon.
He compares Bitcoin to Gold, as both are not dependent on government monetary policies. Some Tiger21 members have even "gone all in" on crypto, strongly believing in the potential of this market.
Tiger21 is a members-only organization, comprising wealthy investors, entrepreneurs, and executives. The requirement to become a member is having at least $20 million in investable assets.
Established in 1999, Tiger21 has now expanded to 53 cities globally and has over 1,600 members. It is one of the most influential private investment networks in the world.
Tiger21's portfolio is focused on high-risk, high-potential-return assets:
80% invested in public-private real estate and private equity.
The cash holding ratio is below 10%, the lowest in 17 years, indicating they are heavily invested rather than holding cash.
Although the network has not disclosed the specific cryptocurrencies they hold, this massive investment reflects a clear shift in how the ultra-wealthy are approaching crypto.
The cryptocurrency market currently has a capitalization of $3.3 trillion, recovering after a sharp decline on 02-03/02 due to trade tensions between the US, Mexico, Canada, and China. In just 24 hours, the market had "evaporated" $400 billion in capitalization.
A notable point is that Bitcoin Dominance (the proportion of Bitcoin in the total market capitalization) has decreased to 61.42%, after reaching a 4-year high of nearly 63% on 03/02. However, this is a positive signal for altcoins in their effort to gain market share from Bitcoin.
Compiled by Coin68
