Tiger21’s Michael Sonnenfeldt Highlights Growing Bitcoin Interest Among Ultra-Rich Investors

Michael Sonnenfeldt, founder of the elite investment network Tiger21, revealed that bitcoin (BTC) has become a key asset for the ultra-wealthy, serving as a hedge against instability and a store of value. Speaking on CNBC, Sonnenfeldt noted that the network’s members, who collectively hold $200 billion in assets, have allocated around $6 billion to cryptocurrencies, with bitcoin being a significant portion.

“We’re seeing a major shift toward digital currencies. For many members, bitcoin has replaced gold as the go-to asset for wealth preservation,” Sonnenfeldt said. He described bitcoin as a more modern alternative to gold, which remains favored by traditional investors, while bitcoin is perceived as the next evolution in secure value storage.

Bitcoin’s performance has been extraordinary, climbing over 125% in the past year, and currently trading above $97,000, solidifying its place in the portfolios of the wealthiest investors. Sonnenfeldt added that Tiger21 members have reduced their cash holdings to a 17-year low, indicating strong market confidence and growing interest in alternative assets like bitcoin.