BingX Chief Strategy Officer Kevin Lee said wealthy "old money" investors tend to hold Bitcoin for longer than many crypto-native traders, framing the asset as a portfolio diversifier rather than a vehicle for rapid short-term gains. Speaking during a conversation with Cointelegraph multimedia head Ciaran Lyons at Token2049 in Singapore, Lee said he has met many affluent clients looking for alternative investments and described them as having stronger "diamond hands" than most market participants.
Lee argued that Bitcoin has reached a scale where rich investors increasingly see it as part of a broader allocation strategy. He cited an example in which an investor might put 5% into gold and another 5% into Bitcoin instead of chasing a fast return. He also described wealthy investors as a pool of capital that crypto has not fully tapped.
Survey data mentioned alongside his remarks points in the same direction. A CoinShares poll released Monday, covering 2,230 investors with at least $500,000 in investable assets, found that long-term appreciation and diversification ranked as the main reasons to buy crypto, while short-term speculation came last. Among respondents invested in digital assets, 80% held Bitcoin. At the same time, JPMorgan’s February survey of 333 single-family offices across 30 countries showed crypto is still far from a standard allocation for wealthy households.
BingX Chief Strategy Officer Kevin Lee said wealthy "old money" investors often keep Bitcoin positions for longer than many crypto-native traders, describing the group as more focused on portfolio construction than quick upside.
Lee made the remarks during a conversation with Cointelegraph multimedia head Ciaran Lyons at Token2049 in Singapore. He said he has worked with many affluent clients seeking alternative investments and added that "their diamond hands are stronger than any of ours." He argued that Bitcoin is now large enough for wealthy investors to treat it as a diversification tool rather than something expected to "go up 10x in two weeks."
Affluent capital remains an underused source for crypto
Lee said wealthy investors are still an underdeveloped source of capital for the crypto market. In his view, their buy-and-hold approach could help Bitcoin become a portfolio diversification instrument for a wider set of investors.
As one example, he said some investors may allocate 5% to gold and another 5% to Bitcoin instead of pursuing short-term returns.
Survey data points to long-term growth and diversification
A CoinShares survey released Monday found that long-term appreciation and diversification were the top reasons for investing in crypto assets among 2,230 investors with at least $500,000 in investable assets. Short-term speculation ranked last. Among digital asset investors in the survey, 80% held Bitcoin.
Even so, crypto remains far from a standard allocation for wealthy families. A JPMorgan survey published in February, based on 333 single-family offices across 30 countries, found that 89% had no exposure to crypto assets. Their average allocation to crypto and digital assets was just 0.4%, and only 17% of respondents viewed crypto and digital assets as a key investment theme.
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