Michael Sonnenfeld, founder of Tiger21, reported that the network's ultra-rich members have collectively allocated about $6 billion into cryptocurrencies, particularly bitcoin (BTC). With a total net worth of $200 billion among its members, each has invested approximately 1%-3% of their wealth into crypto. Sonnenfeld described bitcoin as a new-age store of value, akin to gold, which appeals to a segment of investors who view digital currencies as alternatives to traditional assets. Bitcoin's price has surged over 125% in the past year, trading above $97,000. The decline in cash holdings among members to a 17-year low indicates a high confidence in the market. This shift towards cryptocurrencies highlights the changing perceptions of wealthy investors regarding digital assets.

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