Shocking Secrets of the Ultra-Rich: $6B in Crypto? You Won’t Believe This!

by

So, Michael Sonnenfeldt, the big cheese at Tiger21 (you know, the exclusive club for the fabulously wealthy), has just let slip that they’re sitting on a whopping $6 billion in cryptocurrency. Yes, you heard that right—$6 billion! That’s like, enough to buy a small country or at least a really nice yacht. 🚤

And guess what? These high-net-worth folks are all about Bitcoin. Apparently, they’re feeling bullish, which is a fancy way of saying they think it’s going to the moon. 🌕

Rich People Love Bitcoin—Who Knew?

“We have about 1% to 3% of $200 billion in assets, so about $6 billion in assets, in digital currencies,” he casually mentioned during a chat with CNBC. No big deal, right?

When asked what these moneyed moguls prefer to invest in, Sonnenfeldt was all, “Digital currencies are super exciting!” Some of them are apparently “all in” on this whole crypto thing. I mean, who wouldn’t want to gamble with their millions? 🎰

He even compared Bitcoin to gold, which is like saying a fancy new sports car is just like a horse-drawn carriage. Sure, they both get you places, but one is a bit more… shiny. He said they’re both seen as safe havens from government shenanigans. Gold is for the old-schoolers, while Bitcoin is for the hip, modern crowd. Talk about a generational divide! 🥳

And in a world where economies are crumbling faster than my willpower at a dessert buffet, people in places like Argentina and Lebanon are turning to Bitcoin to keep their cash safe. Who knew crypto could be a lifeboat in a sea of financial chaos? 🌊

Now, Tiger21 is managing around $200 billion in assets with about 1,600 members who all have to have at least $20 million in liquid assets to even get a foot in the door. Because, you know, why let just anyone in? 🙄

According to Sonnenfeldt, nearly 80% of their portfolio is in “long-only risk-on assets” like real estate and private equity. And get this—cash is now below 10% for the first time in 17 years. I guess they’re feeling lucky! 🍀

Trump and Bitcoin: A Match Made in Heaven?

Since President Trump waltzed back into the White House, Bitcoin has been on a wild ride. He’s all about supporting crypto projects and even hinted at the U.S. creating a strategic Bitcoin reserve. Because nothing says “stable economy” like a reserve of digital coins, right? 💰

Things got even spicier when Trump decided to set up a sovereign wealth fund, which some crypto enthusiasts think could be used to buy Bitcoin. I mean, who wouldn’t want the government to invest in their favorite digital currency? Sounds like a recipe for success! 🙌

But hold your horses! The market has had its ups and downs, especially with Trump’s tariffs causing a mini freak-out among investors. In just 24 hours, about $400 billion vanished from the crypto market cap. Poof! Just like my hopes of ever affording a mansion. 🏰

Still, Tiger21’s $6 billion bet on crypto shows that the rich are getting richer and more adventurous with their investments. As the regulatory landscape in the U.S. becomes clearer under Trump, it seems like institutional investors are ready to dive headfirst into the digital asset pool. Just don’t forget your floaties! 🏊‍♀️

Read More

2025-02-06 21:32