TL;DR
- Kevin Lee of BingX stated that “old money” investors have stronger long-term conviction in Bitcoin than crypto traders.
- A CoinShares survey of 2,230 investors with at least $500,000 in assets found that long-term appreciation outweighs speculation as an investment motive.
- A JPMorgan report revealed that 89% of surveyed family offices have no exposure to cryptocurrencies, with an average allocation of just 0.4%.
Kevin Lee, Chief Strategy Officer at BingX, stated at Token2049 in Singapore that “old money” investors demonstrate stronger conviction in Bitcoin than most native traders in the crypto industry.
Lee made these remarks during a conversation with Ciaran Lyons, Cointelegraph’s head of multimedia, where he described his day-to-day experience with wealthy investors seeking portfolio diversification alternatives.
“They have more *diamond hands* than any of us,” Lee said, using the term popularized in the crypto community to refer to those who hold positions without yielding to market volatility.
He added that Bitcoin’s growth has made it a sufficiently mature asset for these investors to consider it a diversification tool within their portfolios, rather than betting on short-term speculative returns. He used as an example an investor who allocates 5% of their portfolio to gold and another 5% to Bitcoin, without expectations of multiplying their capital within a few weeks.
Lee: A Long-Term View on Investing in Bitcoin
The most recent data partially supports Lee’s analysis. A survey published Monday by CoinShares of 2,230 investors with at least $500,000 in assets identified long-term appreciation and diversification as the primary reasons for investing in cryptocurrencies, while short-term speculation ranked last. 80% of surveyed digital asset investors reported holding positions in Bitcoin.
However, widespread adoption among wealthy families remains marginal. A report by JPMorgan published in February, based on a survey of 333 single-family offices across 30 countries, revealed that 89% had no exposure to cryptocurrencies whatsoever.
The average allocation to the crypto segment was just 0.4%, and only 17% of respondents considered cryptocurrencies a relevant investment theme. The gap between the interest Lee describes and the reality of institutional portfolios remains considerable.
