Tiger 21 and Digital Currencies

Tiger 21 founder and Chairman Michael Sonnenfeldt stated that the network of high-net-worth investors possesses approximately $6 billion in digital currencies.

> “We have about 1% to 3% of $200 billion in assets, so about $6 billion in assets, in digital currencies,” he said during an interview with CNBC on Wednesday. Sonnenfeldt expressed enthusiasm for the ongoing developments in digital currencies, noting, “The areas of digital currencies remain really exciting. We have some members that are all in. It’s become a gold substitute.”

About Tiger 21

Tiger 21 is a global network composed of ultra-rich investors.

Market Trends and Predictions

Digital asset prices have been on an upward trend, particularly following Donald Trump’s election as president of the United States. Trump has shown support for crypto projects and suggested a possible U.S. strategic reserve of bitcoin.

Recently, Bitcoin reached an all-time high exceeding $108,000 and was trading at $96,779.52 as of 5:35 p.m. ET, according to The Block.

On Wednesday, the global head of digital assets research at Standard Chartered projected that bitcoin could reach $500,000 by the end of 2028.

Sonnenfeldt further commented, “Gold is for traditionalists, bitcoin a bit new age, but they often play the same role. They are perceived as storehouses of value.”