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cryptocurrency February 5, 2018

February 5, 2018 11:36 PM

The crown prince of Liechtenstein revealed a potential royal ambition to invest in cryptocurrencies.

Nestled amid alpine forests between a Swiss border along the Rhine River floodplain and an Austrian border etched across the Alpine foothills, lies Liechtenstein. It is one of Europe’s smallest microstates, and host to less than 40,000 inhabitants.

On February 5, 2018, Liechtenstein’s Crown Prince Alois (heir apparent to the current prince, Hans-Adam II), spoke of the royal family’s aspirations to diversify into new assets, possibly including cryptocurrencies.

The crown prince, with whom lies Liechtenstein’s ruling power, spoke to press regarding the prospects of investing in new asset classes in an effort to bolster the family’s base of wealth. He said, “Particularly with this whole new digital economy, it is something to look into more into in the future.”

Following the Second World War, the royal family was forced to sell portions of an art collection which had been centuries in the making, with some pieces dating as far back as the 16th century. Now, the Crown Prince has indicated that cryptocurrencies might become part of the royal family’s investment strategy, although he did admit they are “very risky.” He cited a lack of internal expertise to directly engage in cryptocurrencies, and instead explained that the current approach is that of “general exposure” through “a private equity” or “venture capital fund,” into which investments are made.

In closing, Crown Prince Alois said this of the technology upon which cryptocurrencies rely: “Blockchain will change a lot of things, it could even help make our state more efficient the way it is administered.” 

Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine. He is a full time staff writer for ETHNews and holds value in Ether.

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Source: ETHNews