The world's biggest crypto fund manager says bitcoin is the next step in the evolution of money - and 'I can't use it to buy coffee' is no longer a sound argument | Currency News | Financial and Business News | Markets Insider
Bitcoin is not a fad that will fade away, said Michael Sonnenshein, managing director of Grayscale Investments. Investors understand that "buying Bitcoin and putting it in their portfolio is meant to be a store of value, inflation hedge, a digital gold, a digital form of money". Investors should not get hung up over the fact that there are only 21 million Bitcoin that will ever exist, because each coin has a 100 million units.
Investors like the fact they can buy a fraction of the coin and add to their position over time, the crypto asset manager pointed out.
Investors like the fact they can buy a fraction of the coin and add to their position over time, the crypto asset manager pointed out.
Oh ya 3 year ago
Don't even mention Bitcoin and gold in the same breath. One is real money and has been for 5000 years that you can tuck into the bank of Sealy and the other is a dot on a computer that a hacker or your government can take in a heartbeat. Bitcoin is worth less than the dollar which is backed by nothing. The States says that they have 8000 tons of gold backing it but nobody has seen that since 1950. Maybe gold plated tunstin at best. Remember folks if you can't hold it in your hand you don't own it. Gold in hand has no counter party risk. And ask yourself a honest question, what has driven up bitcion 117%this year. Yes dealers flipping and driving up the price to fleece more money from the stupid people