Long-term investors and uber-rich Family Offices are interested in crypto

Despite short-term social media data suggesting no buying the dip sign right now, the long-term picture seems much more positive, with a separate study revealing that 77% of family offices in the United States are either considering investing in crypto or have already done so.

The real dip

As TheCoinRise reported, crypto social media is continuously flooded with the term “buy the dip.” The BTFD data tells a positive story too.

The study reveals that a large part of the crypto community has called for buying the dip too early when the price significantly fell further afterward and failed to recover for months straight.

“Often the crowd unanimously call the dip/bottom earlier than the actual dip, and the real bottoms form when the crowd least expects which is represented by low to no mentions in Buy The Dip. As of now, the mentions are very low.”

For instance, in May 2021, after China’s crypto crackdown, the BTC price fell from $68,000 to around $44,000, and the traders mentioned buying the dip. However, the actual bottom came in late July when BTC fell to roughly $29,000.

Crypto is intriguing for long-term investors

While short-term price fluctuations are expected, long-term growth in crypto appears to be inevitable as more high-net-worth individuals and families invest in the sector. According to the newest edition of BNY Mellon’s Global Family Office study, 77% of family offices are either actively involved in crypto or are considering doing so soon.

Private companies that manage investments on behalf of high-net-worth individuals or families are known as family offices. BNY Mellon is a multibillion-dollar investment bank that also offers services to family offices.

The survey gathered 200 responses from 144 multi-family offices and 56 single-family offices, all of which handle more than $150 million in assets.

Out of the large group of people either interested or active in crypto, 72% said they planned to increase their crypto exposure in the coming one to two years. In addition, 64% of multi-family businesses were actively investing in crypto, compared to 36% of single-family offices, according to the research.