Survey shows more than a quarter of billionaires have invested in cryptocurrencies

28% of ultra-wealthy families worldwide have already invested in cryptocurrencies. The results of a survey by the British consultancy Campden Wealth, conducted among representatives of 385 family offices, show this.

Family offices specialise in managing assets belonging to wealthy families. According to the company’s surveys, the average capital under their management is estimated at $1.6 billion.

Following the COVID-19 pandemic, family offices are pursuing the restoration of economic welfare. 59% are seeking new investments, 50% are restructuring portfolios to take advantage of more growth-oriented opportunities, and 41% are diversifying their portfolios.

Crypto investments are held by 31% of wealthy families in North America and 28% in Europe; for the Asia-Pacific region, the share is lower at 19%.

53% of respondents in the Asia-Pacific region regard cryptocurrencies as a promising investment. In North America, 43% agree; in Europe, 33%.

Meanwhile, the share of cryptocurrencies in ultra-wealthy families’ assets remains just 1%. Yet most respondents say they intend to keep the crypto investment share at current levels next year; 28% plan to increase such investments, and only 4% plan to reduce.

“We started by setting aside a small amount for cryptocurrencies within our venture investments. But those investments performed very well and grew sevenfold last year, making them a more significant part of the portfolio,” the report cites the CEO of a US family office.

Among other sectors of interest to wealthy investors, managers name blockchain, fintech, biotechnology and electric vehicles.

As Crunchbase News reports, in the first half of 2021 the volume of venture funding in the blockchain and digital assets industry reached $8.8 billion (excluding Block.one’s investment in the Bullish exchange). The sector accounted for a little over 3% of total deal volume, which stood at $288 billion.

In June, the Soros family office allowed traders to trade Bitcoin.

In August, Seek Capital, the firm that manages the personal fortune of British entrepreneur Simon Nixon, worth $1.2 billion, announced the intention to invest in digital assets.

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