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As recently revealed in the survey conducted by Goldman Sachs, rich families are still interested in investing in cryptocurrencies in spite of the recent crash. The Bloomberg report suggested that 15% of the participants in the survey already have exposure to the embryonic asset class.
Survey Revealed Family offices Are Interested in Cryptocurrencies
The survey conducted by Goldman Sachs revealed that those who are looking to get involved in the crypto frenzy are worried about a long-lasting low-interest-rate environment and the constant rise in inflation.
In addition to this, the Treasury Secretary of the United States, Janet Yellen, predicted rapid inflation a long time ago.
Talking about the family offices, they are the privately-held companies that are responsible for managing the wealth of rich families.
Also, it has been revealed that one-fifth of the family offices that took part in the survey conducted by Goldman Sachs is having over $5 billion in assets under management already.
Soros Fund Management, which belongs to billionaire George Soros, has recently shown a green signal to the trading of Bitcoin.
SPAC Boom Drivers Turning to Crypto
Some of the family offices involved in the survey have long been investors in private equity and real estate, but have recently been one of the biggest drivers of the surge in SPACs or Special Purpose Acquisition Companies.
Moreover, the participants in the survey also pointed towards the interest in investing in the digital asset ecosystem.
As revealed, there are a number of families that are genuinely interested in knowing about Blockchain, the digital ledger technology. Moreover, family offices have been interested in cryptocurrencies for many years.
Meena Flynn, the leader of Private Wealth Management for Goldman, revealed that there are many who think:
“This technology is going to be as impactful as the internet has been from an efficiency and productivity perspective.”