We dug into what to know about investing in cryptocurrency and NFTs during workshops hosted by Front & Female with the co-heads of Citi’s Digital Assets Group
Who? Jeannie Cho Lee, Elaine Kwok, Sara Mao, Rina Hiranand, Emelda Wong-Trainor, Vicky Lam, Denise Ho, and Audrey Puckett
When and where? December 7 and 15 at Tatler House in Hong Kong
Here's what you missed: With NFTs taking the art world by storm and bitcoin experiencing recent record highs (and some dizzying crashes), it’s easy to feel FOMO if you don’t know much about digital assets. That’s especially true if you’re female. Even though bitcoin has been hailed for its potential to democratise investing, when it comes to gender, so far it’s been the same old story: a male-dominated playing field.
To do something about that, we brought together crypto-curious women for workshops with Alex Kriete and Greg Girasole, co-heads of Citi’s Digital Assets Group, who Zoomed in from New York.
See also: Women of Worth Dinners Hosted by Front & Female and Citi Private Bank
Drawing from Citi’s deep dive report Bitcoin: at the Tipping Point, they gave an overview of the evolution of the OG cryptocurrency and why it’s attracting more mainstream and institutional investors. The limited supply of bitcoin—its source code only allows for the creation of 21 million coins—has drawn comparisons to a digital gold, with some seeing it as an attractive hedge against inflation. Kriete and Girasole also acknowledged reasons for scepticism, or FUD, as in “fear, uncertainty, doubt”, just one example of cryptospeak.
There were lots of smart follow-up questions, including sustainability concerns around the energy consumed by mining coins; using blockchain (a digital, time-ordered ledger) to track the provenance of real-world assets like a rare wine bottle or luxury bag; and the challenges of safeguarding your digital wallet or analysing the actual value of an NFT.
Advice swapping and lively discussion ensued over breakfast, with Audrey Puckett and Vicky Lam among the women who opened up about their crypto investing experiences and encouraged others to get a little skin in the game. From getting comfortable with financial risks, the conversation turned to balancing responsibilities across genders and breaking free from the traditional expectations of Asian families.
As Denise Ho said, it was a great vibe and such a fruitful morning.
Explore the Women of Worth content series, which celebrates and supports independent women, created by Front & Female in partnership with Citi Private Bank. Join the Front & Female community by subscribing to our newsletter and following #frontandfemale
About Citi Private Bank:
Citi Private Bank is dedicated to serving worldly and wealthy individuals and families, providing customised private banking across borders. With more than $600 billion in global assets under management, the franchise serves clients in over 100 countries. Citi Private Bank helps clients grow and preserve wealth, finance assets, make cash work harder, safeguard assets, preserve legacies, and serve family and family business needs. The firm offers clients products and services covering capital markets, managed investments, portfolio management, trust and estate planning, investment finance, banking and aircraft finance, as well as art and sports advisory and finance. Learn more