Grayscale: $ 68 trillion capital is preparing to pass into the hands of a generation closer to bitcoin
Grayscale Investments Managing Director Michael Sonnenshine argues that there is clear evidence that millennials will play a major role in raising the price of bitcoin in the coming years, while $ 68 trillion in assets will gradually pass from the older generation to them..
In a conversation with Yahoo! Finance Sonnenshine spoke about the perception of bitcoin as a massive class of investment assets.
“There continues to be speculation on Wall Street that Bitcoin is becoming digital gold or digital store of value,” he said. – We often talk about the transfer of capital between generations. $ 68 trillion will go to millennials over the next 25 years. This is big business. Today it is in gold and other investments, but we have to watch where it will flow. Of course, we are not saying that all this capital will end up in bitcoin. However, we argue that Bitcoin resonates with the millennial audience. “.
Sonnenschein cited recent research by brokerage firm Charles Schwab that Grayscale Bitcoin Trust is one of the most sought-after investment vehicles among the 18-37 generation..
“Experimental data are already coming in showing where everything is heading. Investors should pay attention to this, ”he added..
According to Sonnenschein, there has also been a recent increase in the share of investors who recognize the potential for diversification of digital assets outside of bitcoin, who are interested in other company products linked, for example, to Ethereum, XRP, Bitcoin Cash and Litecoin..
“I think a certain group of our investors adhere to the views of Bitcoin maximalism. Despite the fact that most of the dollar flows are directed specifically to bitcoin, and not to other digital currencies, we do have a growing segment of investors who recognize the potential for diversification in storing not only bitcoin, but also other digital currencies for which they have access, “he said.