Grayscale Investments: Bitcoin is not a craze that will soon disappear

The strengthening of the rate of the first cryptocurrency is a consequence of the increased interest in the asset on the part of investors, says the head of Grayscale Investments, Michael Sonnenshine. He emphasizes that the current trend is not a temporary phenomenon that will soon disappear, but a confirmation of the resilience of this asset class.

In an interview with Business Insider, Michael Sonnenschein noted that the global COVID-19 pandemic this year has become another key driver for investing in bitcoin. So, the cost of cryptocurrency instruments managed by his company currently exceeds $ 10 billion.

“I think everyone today understands that buying bitcoins and including them in their portfolio is a store of value, inflation insurance, an electronic form of money that is much better suited to the digital world in which we live at the moment, compared to historical repositories of value such as precious metals, which would certainly be much more applicable in physical exchange, ”said Michael Sonnenshine, highlighting the fact that Bitcoin is now seen as one of the most important next steps in the evolution of money.