Goldman Sachs recently researched its family office clients and discovered that many of its clients are interested in cryptocurrency investments.
In the research, the investment bank discovered that 15% of the clients already own digital assets. The remaining 45% aim to add cryptocurrency to their portfolios. This interest implies that ultra-wealthy investors are becoming very bullish towards digital assets.
The survey focused on 150 family offices worldwide and discovered the percentage of their clients who already own crypto.
Nevertheless, the report also showed that those who are yet to invest are more than present investors. The 45% of clients who haven’t invested aim at using crypto to hedge against the persisting higher inflation and low rates.
What About Respondents?
Other respondents in the survey seem not to be interested in crypto investment at all. According to these groups, they’re concerned about the volatility & long-term uncertainty that characterize crypto prices. This is why the idea seems not to be attractive for consideration.
The report also stated that 67% of all the firms that participated in the research are managing assets worth $1billion. The remaining 22% manages assets worth more than $5 billion.
According to our source, the “family office” is responsible for the wealth & personal affairs of the rich in society.
This group includes entrepreneurs such as Chanel, Alain & Gerard Wertheimer, Google CEO Eric Schmidt, Bill Gates, the Microsoft co-founder, etc.
One of the firms, Ernst & Young, mentioned that there might be more than 10,000 family offices in this Family office business. Also, the firm stated that each office manages a single family’s financial affairs, and most of them started operating in the 21st century.
Generally, the Family Office businesses are overshadowing the hedge Fund sector as it records above $6 trillion worldwide.
Goldman Sachs Believes In Cryptocurrency Based Future
According to the Investment bank, many of its clients believe that blockchain technology will become great in the future. Most people see the tech as something that will boom, just like the internet had done to boost productivity and efficiency.
This is why the clients want to expand their investment portfolio into cryptocurrency to position themselves for the upcoming growth. This is apart from those who want to use crypto as a hedge against inflation.