TIGER 21 Invests $6B in Crypto, Cites Bitcoin as Store of Value
- TIGER 21 has allocated up to $6 billion in digital assets, reflecting growing institutional interest in crypto amid evolving U.S. regulations.
- Founder Michael Sonnenfeldt sees Bitcoin as a modern store of value, comparing it to gold as a hedge against economic instability in certain regions.
TIGER 21, a global network of high-net-worth investors, entrepreneurs, and executives, has allocated approximately $6 billion to digital assets within its $200 billion portfolio, according to its founder and chairman, Michael Sonnenfeldt.
“We have about 1% to 3% of $200 billion in assets, so about $6 billion in assets in digital currencies,” Sonnenfeldt said in a Feb. 5 interview with CNBC.
The investment reflects a broader trend of increasing institutional interest in cryptocurrencies as regulatory clarity improves in the United States. Sonnenfeldt highlighted Bitcoin’s evolving role as a store of value, particularly in economically unstable regions such as Argentina and Lebanon.
“Gold is for traditionalists, Bitcoin is a bit new age, but they often play the same role. They are perceived as storehouses of value that are not subject to government fiat,” he said.
“When you have a truly global market like that, people feel like there’s some real refuge there to be found.”
TIGER 21 operates on an invitation-only model, requiring members to have at least $20 million in investable assets. Since its founding in 1999, the network has expanded to 53 cities worldwide, with its membership base now exceeding 1,600.
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While Sonnenfeldt did not specify which cryptocurrencies make up the firm’s holdings, he noted that nearly 80% of TIGER 21’s total portfolio is invested in “long-only risk-on assets,” including public and private real estate and private equity. The group’s cash holdings have also dropped below 10% for the first time in 17 years.
The announcement comes as the total cryptocurrency market cap stands at approximately $3.3 trillion, following a partial recovery from a market downturn on Feb. 2 and 3, which saw $400 billion wiped out within 24 hours. Bitcoin’s market dominance has since declined to 61.42% after reaching a four-year high of nearly 63% on Feb. 3, according to TradingView data.
Edited by Harshajit Sarmah
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