Investors Unfazed by Bitcoin and Crypto Sell-Off
Michael Sonnenshein is saying investors are looking at Bitcoin’s recent drop as more of an opportunity than a crisis, which they should
Investors Unfazed by Bitcoin (BTC) and Crypto Sell-Off, Says Grayscale CEO Michael Sonnenshein
“In a new interview with Yahoo Finance at the World Economic Forum conference in Davos, Switzerland, Michael Sonnenshein says that investors are looking at Bitcoin’s recent sell-off as more of an opportunity than a crisis.
‘I think we have to examine crypto in the context of what’s been happening in the broader markets. You’ve seen rising rates in the US [which] has caused a lot of volatility in a lot of different asset classes, crypto along with it.
The recent sell-off though, from what we’re hearing from investors, has not deterred them. If anything, they’re looking at it opportunistically and a pullback like this is nothing new in the crypto space.’
Sonnenshein discusses how Bitcoin on the one hand does mirror gold’s role as a safe-haven asset but notes that BTC’s relative youth versus traditional investments means making direct comparisons can be tricky.”
