Tiger21’s Michael Sonnenfeldt Highlights Bitcoin’s Growing Role Among Ultra-Wealthy Investors
Michael Sonnenfeldt, the founder of Tiger21, discussed the increasing enthusiasm for bitcoin (BTC) as a hedge against instability among the world’s wealthiest individuals. In an interview on CNBC, Sonnenfeldt noted that members of his exclusive group, who collectively manage $200 billion in assets, have invested around 1%-3% of their portfolios into cryptocurrencies, with an estimated $6 billion allocated to the sector.
He explained that many Tiger21 members view bitcoin as a modern alternative to gold, which has traditionally served as a store of value. “Bitcoin offers a more contemporary take on wealth preservation, with some members fully embracing it as a substitute for gold,” Sonnenfeldt stated.
With bitcoin’s value soaring by over 125% in the last year and currently trading above $97,000, the cryptocurrency continues to gain momentum. Sonnenfeldt also pointed out that Tiger21’s members are holding less cash than they have in 17 years, reflecting a strong sense of market confidence and a growing trust in digital assets.
