A recent survey carried out by Owner One has shown that rich families with a net worth of $100 million show a preference for algorithmic coins over tokens. In the study, the platform revealed that the family favors algorithmic coins at 4.32% while their preference for other tokens stands at 0.92%. These preferences remain paramount despite the complexities encountered during the conversation of these tokens back to fiat currencies.
Owner one survey shows rich families’ crypto preferences
The Owner One study also looked into the dynamics of planned and unplanned transfer of wealth from capital founders to their heirs. This part revealed how difficult it is to maintain ownership of algorithmic digital assets. The study showed that about 91% of cases of transfers from crypto to fiat see a disruption in continuity, highlighting the issues faced by these families.
The Owner One study also revealed that only 7% of the families carry out research before making crypto transactions. This lack of research leaves them at the risk of being at a disadvantage in clear ownership history. This factor could also pose greater implications for the crypto ecosystem.
Challenges in ownership continuity and knowledge gaps
Meanwhile, the Owner One study revealed a slight concern about the crypto knowledge of the families. In retrospect, only 12.82% knew that digital assets cannot be recovered once lost. The remaining 87.18 showed nonchalance about storing or securing their assets. This means there is a need for better education about the crypto industry.
The study also showed that the majority of the respondents were ignorant about the censorship of some assets. For example, the issuer behind USDT might decide to freeze or seize the assets at their discretion, a fact that many ultra-rich families don’t know. This underscores the need to understand several aspects and risks tied to different types of assets.
Also, the study points to the fact that these ultra-rich families possess a limited understanding of the need for self-custody in managing their assets. Centralized exchanges, where most of them make deposits pose significant risks in case of unforeseen events. The study noted that these platforms could jeopardize their assets if they encounter operational issues.
