BingX strategy chief Kevin Lee says wealthy investors are taking a longer-term approach to Bitcoin, though family-office crypto exposure remains limited.
BingX chief strategy officer Kevin Lee says wealthy “old money” investors are taking a longer-term approach to Bitcoin (BTC) than many crypto-native traders.
In a Token2049 fireside chat with Cointelegraph head of multimedia Ciaran Lyons, Lee said he deals with “a lot of old money” seeking alternative investments.
He added that Bitcoin has grown large enough that wealthy investors are increasingly looking at it as a way to diversify a portfolio rather than expecting it to “go 10x in two weeks.”
Lee described wealthy investors as a largely untapped source of crypto capital, saying their buy-and-hold approach could make Bitcoin a portfolio diversifier for more investors. But data on family offices suggests that broader adoption remains limited.
Some affluent investors increasingly cite long-term appreciation and diversification as reasons for holding crypto.
Lee said Bitcoin’s growth has made it more viable as a portfolio diversifier, giving the example of an investor allocating 5% to gold and another 5% to Bitcoin rather than looking for rapid returns.
Recent data suggests affluent investors who already hold crypto are taking a longer-term view of the asset class.
On Monday, a CoinShares survey of 2,230 investors with at least $500,000 in investable assets found long-term appreciation and diversification were the leading reasons for investing in crypto, while short-term speculation ranked last. Bitcoin was held by 80% of digital asset investors surveyed.
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