Crypto Fund Manager: Few Family Offices Actually Own Bitcoin Directly
Last year, the “institutions are coming” narrative became heavily cited in the Bitcoin and crypto space. You see, back then, investors were grasping for straws, trying to find some glimmers of hope in a roaring bear market.
Unfortunately, the narrative wasn’t and purportedly still isn’t entirely accurate. A prominent industry commentator and cryptocurrency fund manager recently argued that nearly all the family offices he surveyed are not in the spot digital asset game. Yikes.
Family Offices Aren’t Holding Bitcoin and Crypto
Back in 2017, the Family Office Association’s Angelo Robles claimed in an with Bitcoin.com that single-family offices have started to adopt Bitcoin, purportedly to try and diversify their portfolios to hedge against risk.
According to a , a partner at DTC Capital and industry commentator, this might not be true. Citing his anecdotal discussions with 30 family offices that have assets under management of over $1 billion, he claimed that only one office holds spot cryptocurrency.