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60% of Rich Families Are Considering Investing In Cryptocurrency, Goldman Sachs reports

A recent survey conducted by Goldman Sachs, the titans of investment banking, indicated extremely bullish behaviour by wealthy families regarding digital assets.

Half of the bank’s family office clients, particularly extremely wealthy families, are now considering adding digital assets to their portfolios. The true number though might surprise you hugely. Crypto for years has maintained a feeling that you are part of a select few but for us all to become rich this will need to change of course and these findings indicate that things already are. If you have been in crypto for long enough you might remember the excitement of overhearing a conversation about Bitcoin or seeing any reference whatsoever in popular culture. This excitement has waned significantly now and this of course can act as one indication that we are all becoming more familiar with people talking about cryptocurrency.

As reported by Bloomberg, the survey showed that over 150 family offices around the world had been queried by the bank. The results showed that 15% of the families had been exposed to digital assets previously and that the majority of these people say they are no longer sceptical about the potential value of cryptocurrency.

The survey showed 45% of the family offices had expressed great interest in investing in digital assets as a hedge against high inflation, and prolonged low rates among other macroeconomic developments. The reports showed the interest had risen due to a year of unprecedented global monetary and fiscal stimulus.

Though most of the offices indicated a bullish attitude, other respondents cited concerns over the volatility and the long-term uncertainty in the price of digital assets as their reason for avoiding cryptocurrencies.

Around 67% of the offices queried have reported managing over $1 billion worth of assets. 22% of the respondents reported assets worth $5 billion under management.

Family office firms have been described as the management of wealth and personal affairs of the upper class. This includes the likes of Bill Gates and other billionaires.

According to Ernst and Young, a professional service firm. Over 10,000 family offices manage the financial affairs of a rich family, half of which were launched during the 21st century. The family office sector overshadows the hedge fund industry, managing more than $6 trillion worldwide.

Most of the family office clients have expressed interest in cryptocurrencies, as Meena Flynn of Goldman Sachs stated. She added many clients believe blockchain technology will have quite an impact on the internet.

I’m sure you will agree that these findings are not just surprising but hugely encouraging and should act as quite some encouragement and even if these numbers are a way off, they only need to be partially realised for us all to achieve our dreams.

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