Old Money's Diamond Hands Outshine Crypto Natives, BingX Exec Declares 💎

Wealthy "old money" investors are holding Bitcoin longer and with more conviction than many crypto-native traders, according to BingX chief strategy officer Kevin Lee. Speaking at a Token2049 fireside chat with Cointelegraph head of multimedia Ciaran Lyons, Lee said he regularly works with affluent clients exploring alternative assets. "They have stronger diamond hands than any of us," Lee said. He added that $BTC has grown large enough that wealthy investors increasingly view it as a portfolio diversifier rather than a bet on a rapid 10x return in two weeks, citing an example of an investor allocating 5% to gold and another 5% to Bitcoin.

Lee described wealthy investors as a largely untapped source of crypto capital, saying their buy-and-hold approach could help position $BTC as a mainstream portfolio diversifier for a broader investor base. A CoinShares survey released Monday of 2,230 investors with at least $500,000 in investable assets found that long-term appreciation and diversification were the leading reasons for holding crypto, while short-term speculation ranked last. Bitcoin was held by 80% of digital asset investors surveyed.

Broader adoption among the wealthiest families, however, remains limited. A JPMorgan report published in February, based on a survey of 333 single-family offices across 30 countries, found that 89% had no cryptocurrency exposure, while average allocation to crypto and digital assets stood at just 0.4%. Only 17% of respondents identified crypto and digital assets as a key investment theme.