Tiger21’s Michael Sonnenfeldt Reveals the Ultra-Wealthy Are Optimistic About BTC.

Tiger21 Founder Michael Sonnenfeldt Reveals Ultra-Rich Investors See Bitcoin as Safe Haven

Michael Sonnenfeldt, the founder of Tiger21, a network for high-net-worth investors, shared on CNBC that bitcoin (BTC) has increasingly become a go-to store of value for the ultra-wealthy. Tiger21 members, whose combined wealth totals $200 billion, have allocated approximately $6 billion into cryptocurrencies, with bitcoin leading the charge.

“The digital currency space is incredibly exciting,” Sonnenfeldt remarked. “For some of our members, it’s all in. Bitcoin has become a replacement for gold.” He noted that while gold is favored by more traditional investors, bitcoin has gained traction as a modern alternative, both serving as perceived safe-haven assets.

Bitcoin’s impressive growth—up over 125% in the past year—has contributed to its growing adoption. Currently trading above $97,000, BTC’s rise has encouraged Tiger21 members to diversify into crypto, with allocations ranging from 1%-3% of their portfolios.

Sonnenfeldt also pointed out that the wealthiest members of Tiger21 are holding significantly less cash, marking a shift towards increased confidence in the markets and the potential of cryptocurrencies like bitcoin.