BingX Exec Says ‘Old Money’ Has Stronger Bitcoin Diamond Hands

Bitcoin diamond hands — BingX Chief Strategy Officer Kevin Lee says wealthy ‘old money’ investors are taking a longer-term, buy-and-hold approach to Bitcoin, exhibiting stronger ‘diamond hands’ than many crypto-native traders.

Speaking at Token2049 in Singapore, Lee noted he deals with many affluent investors seeking alternative assets. He argued Bitcoin’s market growth has made it viable as a portfolio diversifier, where investors might allocate a small percentage alongside gold, rather than expecting rapid, speculative returns.

Recent survey data supports the notion of a longer-term mindset among existing crypto investors. A CoinShares survey of over 2,000 investors with at least $500,000 in assets found long-term appreciation and diversification were the top reasons for crypto investment, while short-term speculation ranked last.

However, broader adoption among the ultra-wealthy remains limited. A separate JPMorgan survey of 333 family offices worldwide found 89% had no cryptocurrency exposure, with an average allocation of just 0.4% among those who did invest.