Large private capital managers of companies are trying to increase investments in cryptocurrencies, Goldman Sachs found out.
According to a new survey of the bank, which was attended by more than 150 family capital management firms, 15% of respondents already have investments in cryptocurrencies. Another 45% said that they are interested in digital assets as a means of hedging " increased inflation, a long period of low rates and other phenomena in the macroeconomics that arise against the background of a year of unprecedented monetary and fiscal stimulus."
This category of investors rarely reports on how they manage the capital of their wealthy clients. Of those who took part in the survey, 22% have $5 billion or more under management, and 45% - from $1 billion. Critics, meanwhile, advocate tougher regulation of such activities after the collapse of Bill Hwang's Archegos Capital Management, which resulted in multibillion-dollar losses.
The survey participants also expressed interest in investing in the "ecosystem of digital assets". Most clients want to discuss "blockchain and distributed ledger technology," said Mina Flynn from the private wealth management division of Goldman Sachs. Many believe that " this technology will be as significant as the Internet, in terms of efficiency and productivity."
Another group of survey participants, however, announced that they still have doubts about the long-term value of digital currencies. Earlier, Fidelity Digital Assets found out that 70% of institutions are ready to invest in cryptocurrencies.