The writing on the wall doesn’t get much clearer than that. “Drop Gold! But BitcoinBitcoin
The first blockchain-based cryptocurrency, launched in 2009. Bitcoin remains the most influential and widely recognized coin. All other cryptocurrencies are known as "altcoins," simply because they are not Bitcoin.
The writing on the wall doesn’t get much clearer than that. “Drop Gold! But BitcoinBitcoin
The first blockchain-based cryptocurrency, launched in 2009. Bitcoin remains the most influential and widely recognized coin. All other cryptocurrencies are known as "altcoins," simply because they are not Bitcoin.
Grayscale buys the coins, manages the coins, secures the coins, and jumps through all those hoops itself. All the masses need to do is then allocate ‘a portion of their portfolio, 401k, IRA’ to GBTC stock.
It’s almost as polarizing and encouraging as the trailer for my book: Stolen Wallets And Where to Buy Them. Though I do admit -- they have a far bigger budget!
The commercial was funded by, and showcases, a company called Grayscale Investments. They are not a company to take lightly. They are worth over $1 billion and they are, by far, the largest bitcoin investment product globally. After all, they hold north of 1.2% of the outstanding bitcoin supply, making them one of the biggest “bitcoin whales” in our ocean.
As if that was not significant enough. They are allied with the biggest brokerage platforms, including “Ally Invest, Charles Schwab, E*TRADE, Fidelity, Interactive Brokers, TD Ameritrade, TradeStation, and Vanguard.”
Do You Know What This Means?
Mass adoption. The masses are gathering at the gates. Why? Because they don’t need to jump through all the hoops it takes to buy Bitcoin. All they need to do is contact their broker (or more than likely their broker will contact them with this “new offer”) and “diversify” their portfolio with the investment vehicle Grayscale offers: GBTC.
“Grayscale’s single-asset investment products provide exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC). Grayscale’s diversified investment vehicle, Grayscale Digital Large Cap Fund™, provides exposure to the top digital currencies by market capitalization.”
Simply put: Grayscale buys the coins, manages the coins, secures the coins, and jumps through all those hoops itself. All the masses need to do is then allocate ‘a portion of their portfolio, 401k, IRA’ to GBTC stock.
Although there are different methods to buy Bitcoin, Grayscale brings to the world a new way of investing in cryptocurrencies that is accessible to the masses.
I say this is more than a step toward mass adoption -- It’s a giant leap.
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