According to Goldman Sachs, the wealth management companies in the world are interested in cryptocurrencies. About 50% of them are going to add cryptoassets to their portfolios.
The bank conducted a survey of about 150 such family investment companies and it turned out that 15% of them have already invested part of their funds in cryptocurrencies. Another 45% of those surveyed are interested in expanding their portfolios.
Cryptocurrencies are seen as a tool to “hedge the risks of high inflation, long-term low base rates and other macroeconomic consequences of unprecedented economic support measures.”
These are interesting indicators, because such family investment companies usually have little contact with the public, they manage large capitals of only one or a few clients. According to the survey, 22% of companies have between $ 5 billion under management, and another 45% of respondents manage assets between $ 1 and $ 4.9 billion.
In addition to investing in cryptocurrencies, respondents expressed interest in investing in the “digital asset ecosystem,” including blockchain and distributed ledger. Many family-owned investment firms think these technologies “will become as important as the Internet in terms of efficiency and productivity.”
Some, however, expressed uncertainty about the long-term value of cryptocurrencies, noting the extreme volatility of the market.
Earlier, analysts at Glassnode wrote that so far the interest of institutional investors in bitcoin is not too great. JPMorgan, on the other hand, is seeing a growing interest from their clients in this new asset class.