‘Old money’ has stronger Bitcoin ‘diamond hands,’ says BingX exec

According to Kevin Lee, Chief Strategy Officer at BingX, old money has a tendency to favor long-term Bitcoin (BTC) investment strategies more than many crypto-native traders. These wealthy investors are often referred to as “old money.”

Speaking at Token2049, Lee shared his observations from interactions with numerous “old money” clients who are actively seeking alternative investments and show a strong preference for holding assets over extended periods.

Lee suggested that Bitcoin‘s increasing maturity positions it as a viable portfolio diversifier, moving beyond its perception solely as an asset for rapid, speculative gains. He views wealthy investors as a significant, yet largely untapped, source of capital for the crypto market.

He also noted that their buy-and-hold approach could broaden Bitcoin's appeal as a portfolio diversifier for a wider range of investors. This perspective aligns with recent findings, though broader adoption among family offices remains limited.

While affluent investors who currently hold crypto assets are increasingly adopting a long-term perspective, crypto is not yet a standard allocation for many wealthy families. A recent CoinShares survey of 2,230 investors with at least $500,000 in investable assets identified long-term appreciation and diversification as primary motivations for crypto investment, with short-term speculation ranking lowest. The survey also found that 80% of digital asset investors held Bitcoin.

However, a JPMorgan report from February, based on a survey of 333 single-family offices globally, revealed that 89% had no cryptocurrency exposure. The average allocation to crypto and digital assets was only 0.4%, and merely 17% of respondents considered these assets a key investment theme. This indicates that while “old money” investors who are involved take a long-term view, overall penetration in this demographic remains low.