News

Goldman Sachs: The Ultra-rich’s Interest In Crypto Has Decreased Over 30% Since 2021

Key Points:

  • A poll conducted by Goldman Sachs found that 62 percent of family offices do not have any investments in bitcoin and have no interest in doing so. This figure is expected to drop to 39 percent in 2021.
  • In spite of this, the results of the most current poll indicate that a greater percentage of family offices are active in cryptocurrency today (26%), compared to only 16% in 2021.
As reported in Goldman Sachs‘ most recent poll of institutional family office investors, interest in cryptocurrency has drastically waned among the wealthy elite.

The proportion of family offices that are not involved in cryptocurrency and do not intend to invest in it in the future has climbed to 62% from 39% in 2021, when the investment banking giant first conducted its study. According to the most recent study, the proportion of individuals potentially interested in crypto investing in the future has also dropped to 12% from 45%.

The findings reveal a significant shift in perception following recent high-profile crypto collapses like as FTX, BlockFi, and Celsius. Nonetheless, more family offices are investing in cryptocurrencies now than in 2021 — 26% presently, up from 16% in 2021 — with the most frequently cited reason being their “belief in the power of blockchain technology.”

The poll included replies from 166 family offices worldwide, with a net worth of at least $500 million (93%) and at least $1 billion (72%). Family offices have maintained a largely consistent approach to more aggressive allocations as they seek superior returns, according to Meena Flynn, co-head of global private wealth management and co-lead of the One Goldman Sachs Family Office Initiative, in a statement.

While institutional interest in crypto may be decreasing, Goldman Sachs recently stated that it is open to expanding its 70-person digital assets unit, while also highlighting the potential for blockchain technology to improve the operation of markets such as private equity. Goldman Sachs joined Digital Asset’s privacy-enabled interoperable blockchain network, named the Canton Network, earlier today to provide a decentralized infrastructure for institutional clients.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News

Chubbi

Recent Posts

Sui Foundation Enters into Strategic Partnership with Franklin Templeton Digital Assets

Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire

18 minutes ago

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

2 hours ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

3 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

3 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

3 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

5 hours ago

This website uses cookies.