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

BingX chief strategy officer Kevin Lee says wealthy “old money” investors are taking a longer-term approach to Bitcoin (BTC) than many crypto-native traders.

In a Token2049 fireside chat with Cointelegraph head of multimedia Ciaran Lyons, Lee said he deals with “a lot of old money” seeking alternative investments.

“They have stronger diamond hands than any of us,” Lee said.

He added that Bitcoin has grown large enough that wealthy investors are increasingly looking at it as a way to diversify a portfolio rather than expecting it to “go 10x in two weeks.”

Lee described wealthy investors as a largely untapped source of crypto capital, saying their buy-and-hold approach could make Bitcoin a portfolio diversifier for more investors. But data on family offices suggests that broader adoption remains limited.

Cointelegraph's Ciaran Lyons (left) and BingX CSO Kevin Lee (right) at Token2049 Singapore. Photo: Aubrey Paller/Cointelegraph

Wealthy crypto investors lean long term, but adoption remains limited

Some affluent investors increasingly cite long-term appreciation and diversification as reasons for holding crypto.

Lee said Bitcoin’s growth has made it more viable as a portfolio diversifier, giving the example of an investor allocating 5% to gold and another 5% to Bitcoin rather than looking for rapid returns.