The future of cryptocurrency and digital assets remains a moving target, with enthusiasm for President Trump’s pro-crypto policies dwindling and new regulatory and investor concerns emerging as companies move quickly to tokenize stocks. Meanwhile, Japan just inked a deal to mine Bitcoin to support its energy strategy.
The Forbes Research 2025 High Net Worth Survey reveals a dramatic recalibration in how high-net-worth individuals (HNWIs) are approaching digital assets. For example, the percentage of HNWIs calling digital assets a “significant part” of their portfolio fell by 64% — from 44% in 2024 to just 16% in 2025.
The survey polled 250 global HNWIs with more than $2 million in investable assets between April and May. Ahead, explore other shifts in how the wealthy are thinking about digital assets now.
Digital Assets Wane In Wealthy Portfolios
The survey data suggests the wealthy have been taking a more cautious approach to digital assets since last year. At the same time, interest hasn’t disappeared entirely, with some wealthy investors planning to diversify with digital assets in the future.
Wealthy Investors Remain Measured In Their Crypto Expectations
While digital assets aren’t currently front and center in HNW portfolios, our data suggest the wealthy remain hopeful about the diverse asset class. The majority of those surveyed (52%) agree that cryptocurrencies represent the future of money and the key to unlocking a new era of financial freedom and innovation. However, that number is down from 74% last year.
At present, investing directly in cryptocurrencies remains risky. There’s no central bank controlling Bitcoin, and the industry is increasingly subject to theft and scams. Forbes’ data reflects those realities. A significant portion of HNWIs (41%) remain skeptical that crypto will ever be as trusted as a traditional investment, a sentiment that has held steady year-over-year.
More wealthy investors do envision a future where regulations will become more common. Fifty-four percent agree that new regulations for cryptocurrency will be put in place, similar to the ones that regulate the banking industry. This sentiment has increased 12 points since 2024.
