Kevin Lee, Chief Strategy Officer at BingX, stated that wealthy investors, often referred to as 'old money,' are adopting a long-term strategy for Bitcoin. Unlike crypto-native traders, these investors view the asset as a tool for portfolio diversification rather than a source of rapid gains.
According to Lee, wealthy individuals are increasingly treating Bitcoin similarly to gold. He noted that some investors now allocate 5% of their portfolios to Bitcoin to hedge risks, moving away from expectations of short-term price surges.
Data from a CoinShares survey of 2,230 investors with at least $500,000 in investable assets supports this trend. The survey found that long-term appreciation and diversification are the primary motivations for holding crypto, while short-term speculation is the least cited reason. Among these investors, 80% hold Bitcoin.
Despite this interest, institutional adoption remains modest. A JPMorgan report from February, which surveyed 333 single-family offices across 30 countries, revealed that 89% of them have no exposure to cryptocurrencies. The average allocation to digital assets among these offices is currently 0.4%, with only 17% considering crypto a key investment theme.
