Billionaire Investors Go Crypto: TIGER 21 Commits $6 Billion to Digital Assets
TIGER 21, an elite network of high-net-worth investors, entrepreneurs, and executives, has made a substantial allocation to digital currencies, committing as much as $6 billion to crypto assets within its $200 billion portfolio. Founder and chairman Michael Sonnenfeldt disclosed the firm’s allocation during a Feb. 5 interview with CNBC, emphasizing the growing enthusiasm for digital assets among its members. “We have about 1% to 3% of $200 billion in assets, so about $6 billion in assets in digital currencies,” Sonnenfeldt stated. TIGER 21 Sees Bitcoin as a Store of Value Sonnenfeldt highlighted Bitcoin’s evolving role as a store of value, comparable to gold. He noted that Bitcoin is gaining traction as an “instability hedge” in regions facing economic turmoil, such as Argentina and Lebanon, where residents seek alternatives to government-controlled fiat currencies. “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 explained. Also read: El Salvador Doubles Down on Bitcoin: 6,068 BTC and Counting! Sonnenfeldt also noted Bitcoin’s global appeal, stating, “When you have a truly global market like that, people feel like there’s some real refuge there to be found.” Increasing Institutional Interest TIGER 21 operates on an invitation-only model, requiring investors to have a minimum of $20 million in investable assets for eligibility. Since its inception in 1999, the firm has expanded its presence to 53 cities worldwide, with its member base surpassing 1,600 individuals. The firm’s $6 billion crypto allocation reflects a broader institutional shift towards digital assets, particularly as regulatory clarity improves in the United States. Sonnenfeldt revealed that nearly 80% of TIGER 21’s portfolio is invested in “long-only risk-on assets” such as public and private real estate and private equity. Meanwhile, the firm’s cash position has dipped below 10% for the first time in 17 years. Also read: XRP Ledger Resumes After Network Freeze—Can Bulls Push XRP Past Resistance? Despite confirming the firm’s significant allocation to crypto, Sonnenfeldt did not specify which digital assets TIGER 21 holds. Market Trends and Bitcoin Dominance The crypto market has been experiencing significant fluctuations, with the total market cap currently sitting at $3.3 trillion. This marks a recovery from the Feb. 2-3 downturn, which saw $400 billion wiped from the market within 24 hours. Also read: SEC Reportedly Scaling Back Crypto Enforcement Unit Amid Leadership Shakeup Bitcoin dominance has declined to 61.42% after reaching a four-year high of nearly 63% on Feb. 3, according to TradingView data. The shifting dominance suggests that investors may be diversifying into altcoins amid the broader market recovery.