Wealthy Americans are shifting away from the stock market to safer assets due to market uncertainty, according to TIGER 21 founder Michael Sonnenfeldt. He sees a trend of prioritizing wealth preservation over growth in the short term but remains bullish on stocks long term.

Sonnenfeldt believes bitcoin and gold are now considered secure assets by wealthy investors, serving as reliable alternatives for tough times. He notes the growing popularity of cryptocurrency as a secure asset, emphasizing its appeal as a secure investment option for uncertain times.

Sonnenfeldt highlighted the challenge of achieving extraordinary wealth through stock market investments, pointing out that even ultra-high-net-worth investors struggle to replicate high returns over time. He referenced Warren Buffett’s long-term success and advised following his example of investing in the S&P 500 for sustained wealth growth.

Read more at Yahoo Finance: Adviser To The Ultra-Rich Says The Wealthy Are Pulling Back From Stocks, Real Estate & Investing in These Assets To ‘Steady Boat’ In ‘Choppy Waters’