September 26, 2022

Michael Sonnenshine: “Millennials will play an important role in raising the price of bitcoin”

Michael Sonnenshein, Managing Director of Grayscale Investments, believes that over the next 25 For years, millennials will play an important role in the rise in the price of bitcoin.

Sonnshine noted in a conversation with Yahoo! Finance, that the younger generation is more interested in bitcoin than traditional financial instruments. And since over time assets totaling $ 68 trillion will pass to them from the older generation, it can be assumed that millennials will transfer part of this money to alternative assets, including Bitcoin. Sonnshine said:

“Wall Street is increasingly talking about Bitcoin asdigital gold or storage medium. We often talk about the transfer of capital between generations. Over the next 25 years, millennials will receive about $ 68 trillion. This is a large amount, which is now in gold and other types of investments. However, it is important to observe where this money will flow. We do not claim with absolute probability that all money is converted into bitcoin. However, it would be foolish to deny the fact that bitcoin is more interesting to the millennial generation. ”

As a proof of his words, the managerDirector of Grayscale Investments cited a recent study by brokerage firm Charles Schwab, according to which Grayscale Bitcoin Trust shares were more in demand among people aged 18 to 37 years.

“Already, studies are being conducted thatshow where everything is going. Investors should take this into account, ”he said, adding that recently, the share of investors has been increasing, who consider other products of the company as tools for risk diversification:

“I believe that a certain group of ourinvestor is a supporter of bitcoin. This proves that a large share of dollar flows is directed precisely to this tool. However, the segment of investors is also growing, which consider other cryptocurrencies as tools for diversification. ”