The Crown Prince Of Liechtenstein To Invest In Digital Currencies

Last Friday the Crown Prince of Liechtenstein told that his family is considering the matter of investing about $5 billion in cryptocurrencies.

Alois Philipp Maria told CNBC that it would help to bolster the royal family’s fortune by investing in cryptocurrencies. He said:

“Particularly this whole new digital economy, it is something to look into more into the future”.

The Crown Prince continued to say that his family currently lacks “the internal expertise” to invest directly in crypto, and that he was unsure about the future of cryptocurrencies in general. He explained:

“I think we would rather do that or are currently doing that through our general exposure via private equity, venture capital funds where we are investing. Where cryptocurrency will move to, I think that’s very open still. So I think one has to really see that it’s a very risky asset class.”

As for blockchain, Alois is more bullish.

Alois is more bullish fro blockchain. He considers the whole technology very interesting and thinks that blockchain will change a lot of spaces in the business.

Also he suggested that his government could potentially utilize the technology, saying the attractive details of blockchain could be used to make the state more efficient in administrative matters.

The royal family is not the only side to have interest in cryptocurrencies and blockchain in Liechtenstein, which is known as a country of low tax rates.

A family- run institution in Balzers town called Bank Frick, announced in early March that it now allows clients to invest directly in cryptocurrencies including bitcoin, bitcoin cash, litecoin, XRP and ether. The announcement of the bank cited demand from companies across Europe as the impetus for its decision.