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Goldman Sachs Survey Shows 45 Percent of Family Offices Want to Invest in Cryptocurrencies

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Wed, 07/21/2021 - 14:38
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Alex Dovbnya
Rich families still have appetite for cryptocurrencies in spite of the recent crash
Goldman Sachs Survey Shows 45 Percent of Family Offices Want to Invest in Cryptocurrencies
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A recent Goldman Sachs survey of more than 150 family offices around the globe shows that 45 percent of them are interested in investing in cryptocurrencies, Bloomberg reports.

Notably, 15 percent of survey participants already have exposure to the nascent asset class.

Those who are looking to get in on the cryptocurrency frenzy are worried about a long-lasting low-interest-rate environment and rising inflation.

Last week, U.S. Treasury Secretary Janet Yellen forecasted several months of "rapid inflation."

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Family offices are private companies that are responsible for handling the riches of wealthy families. With over $70 billion in total assets under management, Microsoft co-founder Bill Gates' Cascade Investment is the largest investment company of this type.

Nearly one-fifth of those family offices that participated in the aforementioned survey have more than $5 billion in assets under management.

As reported by U.Today, Soros Fund Management, the family office of billionaire George Soros, greenlit Bitcoin trading last month.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.