The world's biggest crypto fund manager says Bitcoin is the next step in the evolution of money – and 'I can't use it to buy coffee' is no longer a sound argument | Market Insider

The world's biggest crypto fund manager says Bitcoin is the next step in the evolution of money – and 'I can't use it to buy coffee' is no longer a sound argument | Market Insider


Shalini Nagarajan, the author of the Business Insider says that *Bitcoin is not a fad, and not being able to use it to buy a cup of coffee is not a reasonable argument, according to Michael Sonnenshein, managing director of Greyscale Investments, the largest digital currency asset manager.*

Topics that are covered:

  • Bitcoin is not a fad that will fade away, said Michael Sonnenshein, managing director of Greyscale Investments.
  • Investors understand that "buying Bitcoin and putting it in their portfolio is meant to be a store of value, inflation hedge, a digital gold, a digital form of money," Sonnenshein told Business Insider.
  • Investors should not get hung up over the fact that there are only 21 million Bitcoin that will ever exist, because each coin has a 100 million units.
  • Investors like the fact they can buy a fraction of the coin and add to their position over time, the crypto asset manager pointed out. 

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