There are indeed plenty of people willing to invest their own money in cryptocurrencies today. The confirmation came last night, when payment giant PayPal published its financial reporting form, called 10-Q, to the Securities and Exchange Commission (SEC).

It turned out that the company held the equivalent of $943 million in cryptocurrencies. The assets in question are those of the platform’s users, which are represented by BTC, ETH, BCH and LTC. Consequently, PayPal users have almost a billion dollars worth of crypto – which is really good news.

Generally speaking, the addition of cryptocurrencies to PayPal was announced in October 2020, which has been good for the continued growth of the market. In March, the platform made it possible to pay with crypto for goods, and in the summer of 2022, the giant finally introduced a feature to withdraw coins to third-party wallets. In other words, growth continues here.

Who invests in cryptocurrencies

According to Cointelegraph sources, 32 percent of family offices now hold digital assets on their balance sheet. This category includes cryptocurrencies, unique tokens, DeFi tokens and other blockchain-related assets.


A family office is a private company that helps families manage their assets. So it's essentially the equivalent of a hedge fund on a smaller scale.


Of the survey participants listed, 19 percent of respondents attributed their decision to invest in digital assets to their belief in the power of blockchain technology. Another 8 and 9 percent focus on speculation and portfolio diversification, respectively, meaning they are trying to capitalize on a relatively new asset category and want to reduce risk by diversifying their investment portfolio.

Of the category of people interested in digital assets, the proportion of direct cryptocurrency investors has risen from 16 per cent to 26 per cent since 2021. However, potential interest in crypto has fallen from 45 per cent to 12 per cent over the same period. Goldman Sachs analysts comment on this trend as follows.

Opinions about cryptocurrencies seem to have taken hold, with a large proportion of family offices now investing in crypto. However, the share of those who are not investing and are not interested in investing in the future has grown even more.

Clearly, the events of the past year for the cryptocurrency industry have contributed to this. As a reminder, this was the phase of the most intense bearish trend in the coin niche, which was accompanied by a serious collapse in the value of digital assets. Along with this, the number of bankruptcies among once popular crypto platforms like Celsius, FTX, Voyager, Three Arrows Capital and so on was also on the rise.

The bank’s research is based on the results of a January-February 2023 survey, which was obtained through email questionnaires. A total of 166 family offices participated in the survey, with 95 located in the Americas, 34 in Europe and the Middle East and 37 in Asia-Pacific.

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By the way, Goldman Sachs itself has proved to be the “winner” of the US banking crisis that has unfolded. According to sources, its deposit inflows have only increased since the COVID-19 pandemic began. What’s more, Goldman Sachs is now partnering with several technology and financial giants to launch the Canton Network, according to Cointelegraph.

The Canton Network is a digital asset network designed for those wishing to partner with institutional clients, i.e. large professional investors. It will synchronise financial markets that were "previously isolated".

Testing of the network’s capabilities, which include extensive privacy controls and the scalability required by large financial institutions, will begin in July. Current members of this network include BNP Paribas, Cboe Global Markets, Digital Asset, Paxos, Microsoft, Goldman Sachs, Deloitte and other partners.

Cboe Global Markets executive vice president Cathy Clay has said that the use of blockchain has the potential to “open up” new opportunities in markets. Here’s her pertinent rejoinder on the subject.

The tokenisation of real assets could provide an unprecedented opportunity to create new market infrastructure and improve the efficiency of asset trading around the world.

The Canton Network is being developed in Daml, the Digital Asset smart contract language, which creates a universal system where “assets, data and cash” can be synchronised between linked applications. As you can see, blockchain could soon come to a peak in its popularity among banks – the technology’s capabilities have long gone well beyond the crypto space of Bitcoin and altcoins. However, conventional cryptocurrencies are unlikely to be threatened by this trend – they still remain a desirable alternative to any banking projects.


Cryptocurrencies seem to be gaining in popularity among various members of the financial market. And while some players are becoming disillusioned with digital assets because of the prolonged bear market, the infrastructure around blockchain tokens is becoming more advanced and more widespread. Well, that sets the stage for more tangible growth in the coin market when the next bull run arrives. Given the previous duration of market cycles, we should expect to see massive growth in digital assets as early as the second half of next year. However, time will tell how it will actually happen.


You can find more interesting things about crypto in our chat about future millionaires. There we also talk about other important topics that somehow bring the next bullrun closer.