Tiger21’s Michael Sonnenfeldt Reveals $6B in Crypto Holdings
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Michael Sonnenfeldt, Chairman of Tiger21, a global network of ultra-wealthy investors, has disclosed that the firm holds approximately $6 billion in cryptocurrency. He also stated that the network of high-net-worth investors remains bullish on Bitcoin. The Ultra-Wealthy Are Bullish on BTC “We have about 1% to 3% of $200 billion in assets, so about $6 billion in assets, in digital currencies,” he said in an interview with CNBC. When asked about the investment preferences of Tiger21’s members, he responded, “The areas of digital currencies remain really exciting,” adding that some individuals within the firm are “all in” on the asset class. Sonnenfeldt compared Bitcoin to gold, highlighting the former’s increasing acceptance as a store of value. He explained that both assets were often seen as serving the same purpose, stating, “They’re perceived as storehouses of value that are not subject to government fiat.” According to him, the only difference is that gold is favored by traditionalists, while Bitcoin has a more modern appeal. The executive also stressed that in a truly global market, people felt there was a genuine refuge to be found in such investments. He gave examples of how citizens in economically distressed countries such as Argentina and Lebanon turn to Bitcoin to protect their wealth, showing its growing role as a hedge against instability. As mentioned in the interview, Tiger21 manages approximately $200 billion in assets and has around 1,600 high-net-worth investors among its members. To join the investment group, participants are required to have at least $20 million in liquid assets. Sonnenfeldt stated that nearly 80% of the company’s portfolio is allocated to “long-only risk-on assets” such as public and private real estate and private equity. He also noted that the firm’s cash position has dropped below 10% for the first time in 17 years. A Favorable…
Filed under: News - @ February 6, 2025 10:26 pm