High net-worth families are turning to cryptocurrency investments, according to a recent Goldman Sachs survey that found close to half of the company’s family office clients are inquisitive about crypto-asset investments. A Goldman Sachs executive further said that a large portion of the company’s family office clients are asking about blockchain and cryptocurrency technologies.
Following the SPAC Boom, Family Offices Target Crypto Investments
A recent report from Bloomberg suggests that the ultra-rich families of the world are interested in blockchain and crypto-asset investing. The report stems from the New York-based multinational investment bank and financial services company Goldman Sachs, which conducted a study that polled over 150 family offices.
The findings suggest high net-worth families are turning to crypto because of “higher inflation, prolonged low rates, and other macroeconomic developments following a year of unprecedented global monetary and fiscal stimulus.”
A private wealth management executive for Goldman, Meena Flynn, told Bloomberg that a lion’s share of the families want to discuss “blockchain and digital ledger technology” and alongside this, that family offices believe “this technology is going to be as impactful as the internet has been from an efficiency and productivity perspective.”
Out of the polled respondents who think the macroeconomic developments and higher inflation is an issue, 45% are inquisitive about crypto assets to hedge against these problems.
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