Odaily Planet Daily News: Michael Sonnenfeldt, founder and chairman of Tiger 21, a network of ultra-high net worth investors and entrepreneurs, said that members of the network hold a total of about $6 billion in digital currencies.
He said in an interview on Wednesday: "About 1% to 3% of our $200 billion in assets, or about $6 billion in assets, are digital currencies. The digital currency field is still very exciting. We have some members who are fully committed. It has become a substitute for gold."
Sonnenfeldt also said: "Gold is suitable for traditionalists, and Bitcoin has new-age characteristics, but they generally play the same role and are both seen as a store of value." (CNBC)