60% of uber-rich family offices considering crypto or own it: Goldman Sachs
July 22, 2021. Summarized by summa-bot.
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The family offices managing the wealth of the ultra-rich are looking to invest in crypto as a hedge against interest rates and inflation.
A survey conducted by major investment bank Goldman Sachs has found that close to half of its family office clients want to add cryptocurrency to their portfolios, signaling the ultra-wealthy are becoming increasingly bullish on digital assets.
The survey, reported by Bloomberg, queried more than 150 family offices worldwide and found that 15% are already exposed to crypto assets.
Professional services firm Ernst & Young estimates there are more than 10,000 family offices that each manages the financial affairs of only a single family, half of which were launched during the 21st century.
Goldman Sachs’ Meena Flynn asserts that most of the firm’s family office clients have expressed an interest in the “digital asset ecosystem,” adding that many customers believe blockchain technology “is going to be as impactful as the internet has been from an efficiency and productivity perspective. ”