TIGER 21, a network of affluent investors, entrepreneurs, and executives, has allocated up to $6 billion in cryptocurrencies within its $200 billion portfolio.
In a recent interview with CNBC, Micheal Sonnenfeldt, founder and chairman of Tiger 21, stated,
“Approximately 1% to 3% of our $200 billion in assets is allocated to digital currencies, which equates to about $6 billion.”
He emphasized that the digital currency space continues to show promise, with some TIGER 21 members fully committed to it.
“We have some members that are all in,”
he noted, pointing to the growing interest in the sector.
Bitcoin, in particular, has gained recognition as a modern alternative to gold. Sonnenfeldt described it as a store of value and a hedge against instability, particularly in countries like Argentina and Lebanon, where economic volatility drives individuals to seek refuge in alternative assets.
“Gold is favoured by traditionalists, while Bitcoin is more of a new-age option, both often serve a similar purpose. They are seen as safe havens of value, immune to the influence of government fiat,”
He explained.
Regarding its investment strategy, Sonnenfeldt revealed that nearly 80% of TIGER 21’s $200 billion is allocated to “long-only risk-on assets,” including public and private real estate and private equity. In addition, for the first time in 17 years, the firm’s cash position has dropped below 10%.
In another development, Steve Kurz, Global Head of Asset Management at Galaxy Digital, announced that the U.S. government’s crackdown on crypto has ended. He highlighted increasing institutional interest and a changing regulatory landscape as factors for growth in the sector. Kurz projected that the stablecoin market could grow from $216 billion to $500 billion due to faster settlement times and lower costs. He emphasized the importance of clear regulatory frameworks to fully realize the crypto industry’s potential.
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