BingX executives: "Old Money" shows firmer determination to hold Bitcoin

Bitcoin's reputation as a portfolio diversification tool is resonating with wealthy investors

Bitcoin's growing reputation as a portfolio diversification tool is resonating with wealthy investors. According to Kevin Lee, chief strategy officer at BingX, many such investors have a longer view of holding this asset than a typical cryptocurrency trader.

In a Token2049 fireside conversation with Ciaran Lyons, head of multimedia at Cointelegraph, Lee said that he often encounters "old money" investors seeking alternative asset allocation solutions, who do not expect huge short-term gains.

Core Points

• Kevin Lee, chief strategy officer of BingX, describes wealthy "old money" investors as long-term holders who view Bitcoin as a diversified investment vehicle rather than a short-term game.
• CoinShares survey data cited in the discussion showed that long-term appreciation and portfolio diversification are the top reasons why wealthy investors hold cryptocurrencies, while short-term speculation comes last.
• Despite the prevailing narrative of growing institutional interest, JPMorgan's home office survey shows that most single-family offices are still not exposed to cryptocurrencies.
• The size of Bitcoin seems to be changing the cognitive framework of some private investors about risk and return-from pursuing "ten-times faster" expectations to prudent allocation strategies.

From "Alternative Investment" to Diversification Strategies

Lee's core view is that Bitcoin is mature enough in terms of market size and public perception that wealth managers and high-net-worth allocators are increasingly viewing it as part of a broader portfolio strategy.

During the conversation, he compared two thinking models: native crypto-traders who focus on rapid price movements, and wealthy investors who tend to consider multi-year results. Lee pointed out that this difference is one reason why "old money" capital is underrepresented in the cryptocurrency space, even as interest in it continues to grow.

To illustrate the shift in this framework, Lee cited an allocation approach: investors might allocate a small portion of their money to gold and a similar proportion to Bitcoin-aimed at decentralization rather than chasing quick and dramatic returns.

Wealthy investors have leaned towards long-term motives

While Lee's remarks focused on how his clients treat Bitcoin, the article also pointed to findings consistent with that long-term perspective.

According to CoinShares survey data of 2,230 investors with at least US$500,000 in investable assets, the most common reasons for investing in cryptocurrencies are long-term appreciation and diversification. According to reports cited by Cointelegraph, short-term speculation ranks lowest on the list. The same dataset showed that 80% of digital asset investors surveyed held Bitcoin.

对于读者而言，实际的启示是：即使在已经持有加密货币的富裕参与者中，其动机特征也偏向于持久性和配置逻辑。这很重要，因为它表明相较于主要由短期交易周期驱动的市场，需求可能存在潜在的稳定性——但这并不自动转化为广泛的采用。

家族办公室大多置身事外

即使调查受访者显示出更强的长期理由，针对富裕家庭的更宏观图景却并不统一。文章指出，加密货币仍未成为大多数富裕家庭的默认配置选项。

文章引用了摩根大通今年二月发布的一份报告，该报告基于对30个国家333家单一家族办公室的调查。在该研究中，89%的受访办公室表示没有任何加密货币敞口。摩根大通还报告称，加密货币和数字资产的平均配置比例为0.4%，这进一步证实了—at least by the survey’s snapshot——加密货币在这些私人投资者投资组合中所占份额很小。

同样的摩根大通发现表明，只有17%的受访者将加密货币和数字资产视为关键投资主题，这凸显了不断增长的 Interest 叙事与实际资本配置之间的差距。

This tension is crucial for investors focusing on this space: the story of "long-term diversification" may find favor among those who have already begun experimenting with cryptocurrencies, while the family office, which serves as gatekeepers to large pools of funds, has portfolio penetration remains limited.

Focus to observe: Whether Interest translates into a measurable allocation

Lee's remarks suggest that Bitcoin's expansion in size and visibility are changing the way some wealthy investors view it-from occasional high-volatility opportunities to a component of a diversified portfolio. However, family office data cited in the discussion suggests that the shift may be uneven among different wealth classes and investment committees.

Readers should next pay close attention to whether the long-term reasons for reason seen in the wealthy investor survey translate into a higher and more sustained allocation of family offices, or whether adoption continues to be concentrated among a few persuaded niche investors.