Grayscale CEO on Bitcoin's recent bull run: "this time it's different"

20 May, 2019
by Richard Allen
Grayscale CEO on Bitcoin's recent bull run: this time it's different

In a recent interview with Bloomberg, CEO of digital asset management firm Grayscale Investments gave his thoughts on Bitcoin. As it turns out, he’s very bullish on Bitcoin’s future.

Barry Silbert explains that the difference between this increase in price and the bubble seen in 2017 is the infrastructure. “You have custodians now, you have trading software, compliance software, people are educated about the asset class, so this time is different.”

Silbert then discusses the advertising campaign Grayscale has just launched. On May 1, the investment firm aired a TV commercial aimed at pushing investors away from gold and start investing in Bitcoin, promoting the king of cryptocurrencies as a better alternative to gold.

Speaking about the ad, Silbert says it was designed to be provocative and get people talking. He explains that there’s a generational shift in the way investors are thinking about gold, adding the approximately $68 trillion of wealth flowing down from the Baby Boomers to Gen X’ers and Y’s to Millenials over the next 25 years. “That’s not going to stay in gold. It’s not all going to go into Bitcoin, but whatever is in gold is certainly going to diversify into something else.”

 BTC/USD chart provided Tradingview

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