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Grayscale CEO on Recent Bull-Run, “This Time it’s Different”open_in_new
The CEO of the digital asset management firm Grayscale investments has given his thoughts on Bitcoin, and it seems that he is very bullish on the future potential of the leading cryptocurrency.
In a recent interview with Bloomberg, Barry Silbert said that he sees Bitcoin being revived but it will be different from the ‘bubble’ that was formed at the end of 2017.
Silbert goes onto say that he sees the current market sentiment, price technicals and the significant improvement in infrastructure as a lot of big indicators suggesting Bitcoin is ready to make a push to new all-time highs.
“You have custodians now, [in addition to] trading and compliance software,” said Silbert. “Investors are more educated about the asset class so this time it’s different.”
Both Grayscale and Silbert have been doing their part to help push the market further. The firm recently launched a big marketing campaign to attempt to persuade investors to drop their assets in gold and start moving into the crypto space.
Silbert said at the start of May:
“The gold industry has done a fantastic job of marketing an overpriced metal but Bitcoin has superior physical properties and market utility. I believe that Bitcoin will become the store-of-value for our digital age.”
On top of this, the firm has launched its #DropGold initiative which offers education for investors who are pondering of diversifying with Bitcoin to “reap the benefits of a diversified investment strategy.”
It's finally here. Find out why today is the day to #DropGold: https://t.co/UxHg6Lusoj pic.twitter.com/LvHB0HHvmp
Speaking of gold, one-half of the Winklevoss twins, Tyler Winklevoss revealed recently that Bitcoin will be so successful that its ability to act as a store of value will push it beyond commodities such as gold.