TIGER 21 Invests Up to $6 Billion in Cryptocurrency
Date: 2025-02-06 Author: Oliver Abernathy Categories: BUSINESS
TIGER 21 is a network of high-net-worth investors, entrepreneurs, and executives that founder Michael Sonnenfeldt says has invested up to $6 billion in digital currencies. That represents between 1% and 3% of the company’s total assets, which total $200 billion. In an interview with CNBC on February 5, Sonnenfeldt noted that cryptocurrencies are still a hot topic, and there are some TIGER 21 members who are willing to put their entire funds into the asset.
Sonnenfeldt emphasized that Bitcoin has replaced gold as a store of value and a hedge against instability in countries with economic uncertainty, such as Argentina and Lebanon. He noted that gold has traditionally been a store of value, while Bitcoin is a newer asset, but the two often play a similar role as “safe havens” that are not subject to the influence of government currencies.
TIGER 21 operates on an invitation-only model, where investors must have at least $20 million in available assets to become a member of the network. Since its founding in 1999, the company has opened offices in 53 cities around the world and its membership has grown to more than 1,600 people.
The $6 billion allocation to cryptocurrency reflects a growing trend among institutional investors who are starting to invest more in digital assets as the regulatory environment for cryptocurrencies in the U.S. becomes more transparent. Sonnenfeldt said that about 80% of TIGER 21’s assets are concentrated in “long-term risk assets” such as public and private real estate, and private equity, and that the proportion of cash was less than 10% for the first time in 17 years.
While the exact cryptocurrencies TIGER 21 invested in were not disclosed, the total crypto market cap is currently $3.3 trillion, and the market has partially recovered from the early February plunge, which saw about $400 billion wiped out in 24 hours. Bitcoin’s dominance of the market has dropped to 61.42%, after hitting a four-year high of 63% on February 3.
