A recent Goldman Sachs survey of investments shows that high net-worth families are also turning to crypto. Half of the company’s family office clients are showing interest in crypto-asset investments. The survey also discloses that many office clients showed a keen interest in blockchain and the technology behind cryptocurrency.
The Goldman Sachs Survey
Many speculations are going around the survey. And a recent report by Bloomberg says that the royal rich families are showing interest in cryptocurrencies. The report mainly covers multinational companies in New York and even, different financial companies like Goldman Sachs. Surprisingly enough, a poll took place, which resulted in over 150 family offices going after investing in cryptocurrencies.
Although, there could be many probable reasons why rich people are so interested in cryptocurrency. If you ask my perspective, I’ll say they have the money, so they invest in it because they believe in higher inflation. Also, there is a fact about prolonged low rates that contribute directly to global finance.
Meena Flynn, private wealth management executive, says that the roar among rich families is loud because they want to know more about blockchain and other technologies behind cryptocurrency. Which I think is fair enough. Also, these families totally believe that technology is absolutely progressive. It will be as effective as the internet is today. We always consider the internet to be productive and important, and so will be cryptocurrency in the long run.
Facts found in the Survey
According to Goldman, the data shows that 22% of family offices that did respond manage over $5M. While on the other hand, in the poll, 45% of participants are asset managers with $1B to $4.9Billion. And on top of this, 15% of the poll participants are already investing in cryptocurrency actively.
Although, some participants did show a significant amount of concern towards cryptocurrency. And, one of the biggest concern is whether investing in the cryptocurrency have long term power.
A little about Goldman Sachs
The Goldman Sachs Group, Inc is a leading international investment banking, related security, and other financial management firms. The company provides different financial services all over the world. And when I say all over the world, I do include corporations, financial institutes, specific individuals and of course, the government.
One fundamental fact about Goldman Sachs is, Goldman’s IBD is where they follow conventional financial investment services. Along with this, Goldman’s IBD has their own funds on investments, which are totally separate from Goldman Sachs Capital Partners.
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