Keeping up with the recent theme of inflows into crypto isn’t difficult at the moment. Today, it’s Grayscale’s turn to dazzle us with another record quarterly update. During Q3, Grayscale raised over $1B of capital — with 81% coming from institutional investors.
It’s a great headline, which was accompanied by a great soundbite.
“Approximately $68.5 trillion in assets are expected to be handed down from Baby Boomers to Gen X and Millennials in the next 25 years, AND multiple studies show these younger generations are much more likely to invest in digital currencies. The math on that one isn’t hard!”
It seems like our work here is done.
As is the way with news, however, it doesn’t quite paint the whole picture. You could be forgiven for thinking $1B of paper USD just made its way into Bitcoin — it didn’t. A large portion of that inflow was actually placed into the Bitcoin Fund, in Bitcoin (that’s a story for another day).
As for the Baby Boomers leaving behind $68.5T worth of assets, hopefully, that is still someway off in the future, and by the time that cash starts heading into Bitcoin, the $1 vs 0.000088BTC exchange rate may have a couple more zeros in front of the 8's.
Want more? Subscribe to receive the full report every day in your inbox→ http://tinyurl.com/y4rz8pff
Copyright © 2020 Diginex Ltd. All rights reserved.
I, Matt Blom, hereby certify that all of the views expressed in this communication accurately reflect my personal views, which have not been influenced by considerations of Diginex’s business or client relationships.
This communication is not a research report and has been prepared by sales and trading personnel at Diginex Limited and/or its subsidiaries (Diginex) as general information about market conditions and recent events. Any views expressed are those of the author(s), and may differ from Diginex’s views, or other individuals within Diginex. This information is not intended for anyone other than the direct recipient of the email and may not be reproduced or further distributed to any person or entity, whether in whole or in part, for any purpose.
Unless otherwise stated, the Diginex entities issuing this information is not authorized or licensed by any authorities. This material is not directed to any person in any jurisdiction where (by reason of that person’s nationality, residence or otherwise) the publication or availability of this material is prohibited. Persons in respect of whom such prohibitions apply must return this material to Diginex immediately. It is the responsibility of any persons who requested to receive the information contained herein to observe all applicable laws and regulations of their relevant jurisdiction. By continuing to receive and read this material, you are representing and warranting that the applicable laws and regulations of your jurisdiction allow you to receive this information.
This material is based on a number of estimates and assumptions and is inherently subject to significant uncertainties and contingencies and will not be updated, amended, withdrawn or supplemented in light of any new events which makes information herein incomplete, superseded or out of date. Diginex makes no representation or warranty as to the accuracy or completeness of such information and shall not be held liable for any consequences (including without limitation, direct or indirect, special, incidental, consequential damages, losses or liabilities and any claims for loss of profit) arising out of any reliance thereupon. Where there is a reference to any third-party data, information or services, no warranty, responsibility or endorsement of such third party or its data is made. Diginex and its affiliates, officers, directors, and employees or members of their household, may invest or hold positions in any assets mentioned, or provide other services to other market participants of such assets, and any pricing information provided herein is indicative only and does not reflect a level where Diginex is prepared to execute a trade. Diginex employees or representatives may provide oral or written market commentary or trading strategies to our clients and principal trading desks that reflect opinions that are contrary to the opinions expressed in this material. Our asset management area, principal trading desks and investing businesses may make investment decisions that are inconsistent with the recommendations or views expressed in this material.
This communication does not represent a recommendation, advice, offer or solicitation for the purchase or sale of any digital assets, or an official confirmation or official valuation of any transaction mentioned herein. Transactions in digital assets gives rise to substantial risks and may not be available to nor suitable for any particular recipient of this email, and this communication is intended for sophisticated investors who qualify as professional or accredited investors (or similar term) for the purposes of their regulatory regime. You should not rely on the opinion and information expressed herein and it is your responsibility to ascertain your own investment objectives, risk tolerance, seek independent professional advice and ensure that any appropriate tax or regulatory disclosures are made within any relevant jurisdiction that may apply to you. The price and value of digital assets referred to in this material are not backed by physical assets or guaranteed, they have no intrinsic value. Prices on the secondary market are driven by supply and demand and are short-term and volatile by nature. The volatility faced by investors may be further magnified where liquidity pools for virtual assets are small and fragmented. The value of digital asset may be derived from the continued willingness of market participants to exchange fiat currency for a digital asset, which means that the value of a particular digital asset may be completely and permanently lost should the market for that digital asset disappears. The volatility and unpredictability of the price of a digital asset relative to fiat currencies may result in significant losses over a short period of time. Cyber-attacks resulting in the hacking of digital asset trading platforms and thefts of digital assets are common. Victims may have difficulty recovering losses from hackers or trading platforms.
Any digital assets mentioned herein are not intended to fall within the meaning of “securities”, “futures contracts” or other regulated instruments under the laws of any jurisdiction. The author(s) of this material do not hold themselves as being licensed to carry on regulated activities in any jurisdiction.
You have received this email because you have previously expressed to the individual sender that you are interested in receiving such communications. If you no longer wish to receive such communications, please respond to the individual sender with “Unsubscribe” in the email title and you will be removed from the distribution list within ten (10) working days.