The post Ultra-Rich Investor Club Holds $6B Worth of Bitcoin and Crypto appeared on BitcoinEthereumNews.com.

Members of Tiger21, a global invite-only network for high net worth individuals, own $6 billion worth of Bitcoin and other cryptocurrencies according to Tiger21 founder Michael Sonnenfeldt. The network’s 1,600 members across the globe manage a combined $200+ billion in personal assets. In a recent appearance on CNBC, Sonnenfeldt explained that Bitcoin has emerged as an alternative to gold, and has become attractive for investors seeking refuge from instability. “We have some members that are all-in. It has become a gold substitute. Gold isn’t an inflation hedge, it’s an instability hedge. There is a lot of instability around the world, and people think – in America, they are concerned about it – but if you live in Argentina, or Lebanon, or any of the countries that are under risk, Bitcoin is taking on a new role. So, we have about 1 to 3 percent of $200 billion in assets, so about $6 billion in digital currencies.” NEW: Michael Sonnenfeldt, the founder of Tiger21, reports that the ultra-rich are Bullish about #Bitcoin. Don’t let them get all the 🌽 pic.twitter.com/6Qa7bEMqbZ — Simply Bitcoin (@SimplyBitcoinTV) February 6, 2025 Interestingly enough, members of Tiger21 only have about 16% of their assets in cash and bonds. As of Q4 2024, the asset allocation breakdown of Tiger21 members was as follows: Real estate: 28% Private equity: 28% Public equity: 23% Cash: 9% Bonds: 7% Other: 5% Bitcoin’s bullish long-term prospects attract investors At the moment, Bitcoin’s long-term prospects are looking very bullish, with a Standard Chartered analyst recently forecasting that Bitcoin could hit the $500,000 price level as early as 2028. Researchers using a flexible supply and demand equilibrium framework have suggested Bitcoin could reach $1 million as soon as early 2027 given the right conditions. Kraken: Best crypto exchange for security & reliability Buy, sell,…

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Filed under: News - @ February 7, 2025 3:24 pm