Grayscale All Out Assault On Bitcoin Push
More than 33% of American investors have shown interest in investing in Bitcoin, according to institutional investment firm, Grayscale.
Grayscale, whose assets under management has recently topped $5.5 billion in all of its crypto investment options, also launched a Digital Currency Toolkit aimed at helping Financial Advisors better understand Bitcoin.
Grayscale Going on an All Out Assault
In a report released by the world’s largest crypto assets investment firm, Grayscale claim that over one-third of all U.S. investors are thinking of investing in Bitcoin.
The report, which is aimed at Financial Advisors, and includes a toolkit for them to better understand Bitcoin, shows that Grayscale are going on an all out assault when it comes to promoting Bitcoin.
Grayscale said in a tweet that it was time financial advisors got up to speed with Bitcoin.
Grayscale’s Digital Currency Toolkit is aimed at educating Financial Advisors in time for the economic uncertainty, and the expected demographic shift in investing prefernces.
The toolkit includes, a Bitcoin Investment Thesis, which explains all the qualities of Bitcoin. And it also includes a Portfolio Simulator that calculates portfolios with or without Bitcoin.
And Grayscale have also included a snapshot of the average U.S. investor, and how the demographic is set to change as the wealth transfer of over $68 trillion to millennials plays out over the next couple of decades.
CEO of Grayscale’s parent company Digital Currency Group, Barry Silbert also tweeted that Grayscale were starting a national advertising campaign and would be attacking CNBC, MSNBC, FOX, and FOX Business as they show Bitcoin off to the masses.
It’s Only The Start for Grayscale and Bitcoin
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.
Both Young And Old Are Moving Away From Fiat
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 Is Leading the Bitcoin Charge
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
How can I buy Bitcoin in the UK?
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.
Is Bitcoin legal?
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.
Can I start Bitcoin without money?
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.
Can I get rich from 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.