• Sat. Jun 22nd, 2024

“Bitcoin Isn’t The Only Interest Of Investors” Says Michael Sonnenshein, CEO of Grayscale

Jan 19, 2021

Investors have developed interests in investing not only in Bitcoin but other crypto assets as well, says Michael Sonnenshein, CEO of Grayscale Investments.But NYDIG’s CEO says the investors’ interest is in Bitcoin alone.

 Grayscale Investments is the world’s leading and largest crypto management firm. The firm is said to be the holder of the biggest Bitcoin Trust account in the world. It has been revealed recently that the company’s trading volume had increased in triplets since 2020. Furthermore, the majority of investment Grayscale received was Bitcoin and Ethereum remained at second place.

Michael Sonnenshein has recently took over the charge of the Chief Executive Officer of Grayscale Investments. Since his taking of charge as CEO, the crypto industry has been riding on another rally wherein Bitcoin has been captaining the crypto ship.

Sonnenshein has informed that in the fourth quarter of 2020, Grayscale Investments raised over US$ 700 Million in one day alone. He stated that his company has seen a huge number of Bitcoin assets being provided to its biggest Trust of Bitcoin. However, he said that apart from Bitcoin there were other crypto assets too which continued to significantly boost other Trusts as well. For instance, the second most prominent Trust Fund was relating to Ethereum in which investors contributed wholeheartedly.

Sonnenshein further revealed that the year 2020 was the most successful and profitable year for Grayscale Investments. Again in the fourth quarter of 2020, the company received over US$ 3.3 billion of investment. He explained that in order to minimize potential risks, the investors have been investing in other crypto funds as well. However, Bitcoin remains the most profitable and highly valued Bitcoin Trust Fund being maintained by Grayscale Investments.

But the statement of Sonnenshein was found to be in contradiction with the statement of NYDIG’s CEO, Robert Gutmann. He suggested that entirely all the queries NYDIG received regarding crypto investments, were related to Bitcoin only. He said that Bitcoin was the darling of the investors throughout 2020 till to date. He pointed out that the investors’ attention is drawn only towards Bitcoin and refuted the claim of Grayscale’s CEO.

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