Every third super rich family in the world holds cryptos, while every fourth one actively invests in Bitcoin and other digital assets, as revealed in the recent survey of 385 family offices published by the UK consulting company Campden Wealth.
The wealthiest people on the planet agree that cryptos are destined to eventually turn into sustainable investment instruments. Referring to numbers, 28% of billionaires have already invested in Bitcoin, Ethereum (ETH) and are planning to increase their investment positions next year. This is evidenced by the results of a survey conducted by the British consulting company Campden Wealth among representatives of 385 family offices.
Family offices are the ones who manage assets owned by wealthy families. According to the company’s survey, the average capital they are dealing with is estimated at $1.6 billion (~£1.19 billion).
Nonetheless, the total share of cryptos in the assets of super rich families is still only 1%. The majority of respondents are planning to maintain the current share of investments in cryptocurrencies, 28% are going to increase their crypto investments, and only 4% are reducing them.
“We are seeing increasing interest among our clients in direct private equity investments and are actively addressing this through our pipeline of direct deals that offer attractive risk-adjusted return profiles and exposure to fast-growing sectors, such as electric vehicles, biotech, fintech and blockchain,” the report quotes Ms Jo Huang, Managing Director at Private Equity at Raffles Family Office.
Following the COVID-19 pandemic, family offices are striving to restore their economic welfare. As the survey proves, 59% are looking for new investments, 50% are refocusing portfolios to take advantage of more growth-oriented opportunities, 41% are diversifying their portfolios.
31% of wealthy families in North America and 28% in Europe hold cryptocurrencies, whereas for the Asia-Pacific region this figure barely hits 19%. 53% of respondents in APAC consider cryptocurrencies a rather promising investment. In North America, 43% agree with the statement, in Europe, only 33% do.
When excluding the $9.7 billion(~£7.2 billion)capital injection by Block.one into the crypto exchange venture Bullish, the first half of 2021 saw $8.8 billion (~£6.5 billion) in venture capital directed toward blockchain and cryptocurrency. The industry accounted for just over 3% of the total volume of transactions, which is estimated at $288 billion.
Cryptos are truly gaining both ground and recognition of the whole world, having stolen billionaires’ dear hearts away. The recent report by Campden Wealth proved that each third super rich family opts for digital assets when managing their portfolios, and a quarter of the world’s billionaires have already bought some coins to hold. Welcome to the cream of global society, cryptos!
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
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