According to a recent Goldman Sachs report, nearly 50% of all family offices have crypto on their minds and might take positions in the sector. The report is the company’s first survey of family office stakeholders and includes the financial services firms that have family offices as clients.
A family office is a private company that handles wealth and investment management for wealthy families, typically families with more than $100 million in assets. Family offices aim to grow these assets and subsequently transfer the wealth between generations.
Goldman Sachs’ report had respondents from the Americas (54%), the Middle East and Africa (23%), Asia (23%), and Europe (23%). The report states that most of these family offices do not currently hold any crypto positions. However, nearly half of the respondents are thinking about it as a future move. According to the report:
“…Some family offices are considering cryptocurrencies as a way to position for higher inflation, prolonged low rates, and other macroeconomic developments following a year of unprecedented global monetary and fiscal stimulus.”
Other respondents seemingly uninterested in crypto gave different reasons for their absence from the sector. Some said they do not have any exposure because they are worried that digital assets might not be dependable stores of value. Some respondents also specified that they were worried about the underlying infrastructure of the crypto sector, while, for others, the problem is that they just do not understand the space.
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