Grayscale Sees Bitcoin Gaining Worldwide Acceptance
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Oct. 27, 2020

Cryptocurrency manager Grayscale Investments sees bitcoin to be gaining "acceptance among the investing public."

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In a recently published survey, the well-known digital asset manager says over half of US investors have already demonstrated their interest in investing in BTC.

"As equity markets experience sustained volatility and once-strong correlations between various asset classes have begun to unravel, bitcoin appears to be gaining steam as market participants seek investments that can act as safe havens within a portfolio."

The main reason for adoption, according to Grayscale, is the digital young generation which is more in favor of investments in digital currencies than the elder one. An additional factor is that the majority of current and potential crypto investors have not reached their prime earning years yet.

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Coupled with the $68 trillion dollar wealth transfer set to take place over the next 25 years, reveals a potentially huge opportunity for those who see the possibility for long-term growth in Bitcoin, Grayscale claims.

Cryptocurrencies have made a great success over the past few years, however, the growing momentum "may still be ahead."

The total value of crypto assets under management by Grayscale Investments has reached a new all time-high of $6.5 billion earlier in October.

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Most of the funds are concentrated in the Bitcoin Trust GBTC. The Ethereum Trust represents 13.5% of the total value of the company's portfolio, while the total share of other funds is only 3.5%.

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