The Crown Prince of Liechtenstein Alois Philipp Maria said last Friday that his family is considering investing part of his $ 5 billion fortune in cryptocurrencies.
In his comments to CNBC, he pointed out that investing in cryptocurrencies can help the fortune of the royal family, which, although still considerable, was affected during the Second World War.
"Particularly this new digital economy is something to look more into the future," said the Prince.
Despite his interest, the Crown Prince mentioned that his family still lacks internal experience to invest directly in the cryptocurrency market and that he still was not sure of the future of them in general.
"I think we would prefer to do that or we are currently doing it through our general exposure through private capital, venture capital funds in which we are investing. Where the cryptocurrency will move, I think it is still very open. So I think you really should see that it's a very risky asset class. " The Prince explained.
As for blockchain technology, Prince Alois is more optimistic. "I think that particularly all blockchain technology is very interesting ... blockchain will change many areas, many companies in the future."
He also suggested that his government could use the technology, saying that "I think the attractive elements of the blockchain technology could be used to make the state more efficient in the way it is administered."
The principality between Austria and Switzerland is known for its low corporate taxes, so surely the royal family is not the only one interested in Liechtenstein to invest in cryptocurrencies and blockchain technology.
Bank Frick, a family institution located in the city of Balzers, announced in early March that it now allows customers to invest directly in cryptocurrencies, including Bitcoin, Bitcoin Cash, Litecoin, XRP and Ether. The bank's announcement cited demand from companies across Europe as the impetus for its decision.