Michael Sonnenshein, managing director of Grayscale Investments, argues that there is clear evidence that millennials will play an important role in raising the price of Bitcoin in the coming years, while assets of $68 trillion will gradually move from the older generation to them.
In conversation with Yahoo! Finance Sonnenshein talked about the perception of Bitcoin as a mass class of investment assets.
“ “The $68 trln of wealth are going to be passed down to millenials over the next 25 years. That’s a lot of capital,” Sonnenschein said.
Sonnenshein referred to a recent study by the brokerage firm Charles Schwab, according to which Grayscale Bitcoin Trust shares are among the most sought-after investment mechanisms among the generation of 18 to 37 years old.
Sonnenshein pointed out that recently there has also been an increase in the share of investors who recognize the potential for diversifying digital assets outside of Bitcoin, who are interested in other products of the company, tied, for example, to Ethereum, XRP, Bitcoin Cash and Litecoin.
“I think a certain group of our investors adheres to the views of Bitcoin maximalism. Despite the fact that most of the dollar flows are directed specifically to Bitcoin, and not to other cryptocurrencies, we do have a growing segment of investors who recognize the potential for diversification in storing not only Bitcoin but also other cryptocurrencies to which they have access,” he said.
Author: Marko Vidrih