Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

$68,000,000,000,000 Wealth Transfer Poised to Boost Bitcoin, Says Crypto Asset Giant Grayscale

by Daily Hodl Staff
December 10, 2019
in Bitcoin
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

‎‎‎ ‏‏‎

Cryptocurrency asset manager Grayscale says there is clear evidence to show Millennials are poised to fuel Bitcoin’s growth in the coming years, as $68 trillion of wealth gets passed down to the next generation.

In a new interview on Yahoo Finance, Grayscale managing director Michael Sonnenshein talks about Bitcoin’s potential emergence as a mainstream investment.

“The narrative that’s really resonated on Wall Street [is] around Bitcoin becoming digital gold, or a digital store of value.

And this is a conversation that we’re having quite often – this generational wealth transfer. There’s $68 trillion of wealth that’s going to get passed down to Millennials over the next 25 years. That’s a lot of capital. And whether today it’s invested in gold or other kinds of investments, we have to be paying attention to how that capital is going to get redeployed as it gets passed down. So from our perspective, we’re really drilling into what that looks like.

And we’re certainly not saying all of that capital will flow into Bitcoin. But we certainly say that it’s going to resonate with a millennial audience.

Charles Schwab put out this study last week – and the fifth most-held equity holding by their millennial investors is the Grayscale Bitcoin Trust. And that’s ahead of Netflix and Disney, companies that Millennials were raised on. So we’re already getting that empirical data that’s showing that’s where the puck is going. And investors need to be paying attention to that.”

As for the altcoin market, Sonnenshein says the company’s other trusts, which offer exposure to Ethereum, XRP, Bitcoin Cash, Litecoin, Stellar, Zcash, Ethereum Classic and Horizen, are also growing in popularity.

“I think with a certain subset of our investor audience, there’s a Bitcoin maximalism, so to speak.

And despite more dollars flowing into Bitcoin as opposed to other digital currencies, we do have a growing subset of our investors that are recognizing the diversification potential of not just having Bitcoin in their portfolio, but also diversification within the digital currencies they have exposure to.”

Sonnenshein also expands on a study released by Grayscale back in June, showing that contrary to common perceptions, women are interested in investing in digital assets.

“In fact, 43% of those interested investors are female, and then the three things that probably peak female investors’ interest the most about Bitcoin is the fact that they can invest in small amounts. They can access their returns at any time, and they believe that Bitcoin has the potential for really high returns.

Ninety three percent of the women who are interested in Bitcoin said they would be willing to action an investment if they had more educational resources about it. So I think from our perspective, that means there’s a real opportunity for folks like us and for the digital currency community as a whole. If we can educate more people around an asset class that’s new and largely unknown to folks, it actually can draw a lot more capital into the space.”



Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • How Traders Are Gaining by Holding Crypto: Staking Tron (TRX) and Cardano (ADA)
    January 21, 2021
  • QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding
    January 15, 2021
  • The Online Family Office and High Net Worth Blockchain Conference
    December 22, 2020
  • How Blockchain Empowers Wuhan’s Digital Economy Growth – World Blockchain Conference
    December 14, 2020
  • SnapEx Adds LINK, BNB and TRX Alongside Sign-Up Bonus on a Sleek New App
    December 11, 2020
Submit a Guest Post
Bitcoin
$32,389.00
$32,389.00
1.61%
Ethereum
$1,320.12
$1,320.12
2.33%
XRP
$0.270026
$0.270026
0.91%
Litecoin
$137.61
$137.61
0.52%
Bitcoin Cash
$436.20
$436.20
1.08%

Spotlight

  • Coinbase Bump Alert: US Exchange Announces Support for Crypto Asset on Custody Platform
    January 21, 2021
  • Push for Bitcoin ETF Heats Up As Valkyrie Digital Assets Files Registration
    January 25, 2021
  • Partner at Crypto Giant ParaFi Capital Reveals Strategy for Investing in Nascent DeFi Market
    January 18, 2021
  • Is Crypto Giant Grayscale Preparing to Support Chainlink?
    January 22, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2020 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.