— Barry Silbert (@barrysilbert) August 7, 2020
Grayscale’s growth has been nothing short of phenomenal. Their latest update shows Grayscale’s AUM for all of its digital currency investments is up more than 35% since May 2020.
With $5.5 billion currently in AUM, Grayscale has continuously hit all time highs and is up more than 165% since May 2019, and many expect growth to continue as the investment firm up the promotional ante.
Rising Interest in Bitcoin as an alternative store of value is gaining momentum, as both the young and older generations look for a safe haven to store their wealth.
It’s mostly the younger generations that are interested in Bitcoin, and the elder still preferring gold, but it’s clear that everyone is losing faith in the paper-backed currencies.
Gold has recently hit a new all time high of $2080 before a slight pullback, and with Bitcoin outperforming pretty much every other asset, barring a few altcoins, it’s expected that as the printing press goes into overdrive, both assets will keep rising.
Grayscale has opened the doors for institutions to get access Bitcoin. It might be easy for the average person to get around, but hodling one’s own Bitcoin is a risk institutions aren’t likely to take.
And Grayscale offers institutions a way in without any self-custody risk.
The growth in AUM has been nothing short of phenomenal, and it’s unlikely to reverse as millennials inherit tens of trillions over the next two decades.
And as they become the dominant demographic, Bitcoin will be one of the biggest benefactors.
This is not meant as investment advice, but I for one will be hodling.
Author: Tommy Limpitlaw
The UK is one of the most Bitcoin friendly countries, and there are many exchanges where you can buy Bitcoin. The most reputable exchange is Kraken, which is also the most transparent and secure of all exchanges you can buy Bitcoin on. You can also buy Bitcoin in the UK from Paxful, which is a global marketplace. On Paxful you can buy Bitcoin with your £££, or with gift cards, or anything the seller is willing to accept. You can also buy Bitcoin at a Bitcoin ATM, which are dotted all around the country.
As of August 2020, Bitcoin is legal in most countries. The US, UK, Canada, Japan, and all other developed nations it is very much legal. However, the legal status of Bitcoin varies in other jurisdictions.
Absolutely! Bitcoin is like other investments and currencies. If you have some money to invest, you can make more faster. You can lose more faster, as well if you don’t know what you’re doing. But if you don’t have any money to invest you can earn free bitcoins from playing games, learning about cryptocurrencies, or offering your skills for Bitcoin.
You can get rich from Bitcoin, but most people haven’t. Anybody who expects to get rich, especially from a little investment, will likely be disappointed. Bitcoin isn’t a get rich quick scheme, and should be seen as a risky and volatile asset that could bring gains for anybody who can stomach volatility.
A Bitcoiner since 2017 and a Bitcoin Maximalist since 2018, Tommy is our main writer and editor at Bitcoin Maximalist. Other than researching and writing about Bitcoin, Tommy loves spending time with his family and supporting his beloved Leeds United.
