Over one-third of U.S investors have shown interest in investing in Bitcoin and other crypto assets, according to the world’s largest crypto assets investments manager, Grayscale.
Grayscale said that this is a wakeup call for financial advisors to catch up on crypto assets and facilitate the transition of new adopters in the crypto market.
“Over one third of U.S investors are interested in investing in crypto like #Bitcoin. For financial advisors, it’s time to get to speed on the asset class.”
The firm is now offering Financial Advisors its newly launched Digital Currency Toolkit, a resource center that will help them better understand the digital currency asset class.
Bitcoin Will Only Get Stronger
Grayscale has continuously been hitting all-time-highs in total assets under management since the start of the crypto market’s rally in June and its peak in July. Leading the rally, Bitcoin and Ethereum have also recorded 2020’s all-time gains.
The latest update shows that Grayscale’s AUM stands at $5.5 billion, and the firm has big plans to own more of the crypto market cap.
Rising Interest in digital assets as an alternative store of value to the dollar has driven the high adoption of crypto assets being experienced in the US right now.
Individuals in both the younger and older demographics are moving away from fiat to secondary class assets with young people showing a preference for digital assets and older people preferring to invest in Gold.
The price of Gold has been rising in correlation with the bullish activity in the crypto market and experts are speculating that the current fiat money crisis will push both asset classes’ prices higher in 2020.
According to Minnesota’s House Representative Tom Emmer, Bitcoin’s concept of decentralized finance represents a better future for Americans, making it a guarantee that Bitcoin is only going to get stronger and more influential.
Accessing Boomer Wealth through Millennials
Grayscale is slowly unraveling its masterplan to increase more capital inflow into the crypto market and in its vast crypto assets reserves. The firm recently stated that boomers collectively own $68 trillion of wealth. While they prefer gold over digital assets, boomers will eventually have to transfer this wealth to millennials who are five times more likely to invest in Bitcoin.
Additionally, Grayscale is exploring another capital inflow from young investors by targeting traders on popular trading App Robinhood, which has a 13 million user base of 35 year-olds below.
The new move to educate financial advisors will likely open up the market to a more diverse group of investors, especially with the prevailing bullish sentiment in the crypto market.