Has Grayscale Proved Wall Street Wants Crypto?
I for one am no fan of Wall Street but if this helps bring us closer to mainstream adoption, so be it:
This Cryptocurrency Goliath Now Holds 277,000 Bitcoin (BTC) Worth $2,866,000,000 – Has Grayscale Proved Wall Street Wants Crypto?
Sonnenshein believes Millennials and younger generations will also play a key role in the adoption of crypto assets.
“I think the analogue that’s not being discussed as much, which we find to be exceedingly important, is in the United States, over the 25 years, we’re looking at about $68 trillion that’s going to pass down from older generations, baby boomers, down to Millennials and younger generations.
So we’re certainly not going to go out and say that we think $68 trillion is moving into digital currency. What we do think, however, is investors today need to be positioning their portfolios and looking at skating towards where the puck is going.
Younger generations do not necessarily have the same investing preferences and the same kind of investments don’t necessarily resonate with them. And so if you are raised in the time of Apple and Venmo and Bitcoin, the ability to pay your friends digitally, buy a flight with airline miles, whatever it may be, we most certainly think that digital currency is going to be a recipient of some of that value as money is transferred from one generation to the next.”