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Grayscale: The current Bitcoin market structure is similar to that before the historic bull run began in early 2016



A new report from cryptocurrency fund manager Grayscale Investments argues that the current bitcoin market structure is “similar to the structure before the historic bull run that began in early 2016.”

Grayscale predicts that demand for Bitcoin will grow significantly as inflation accelerates, underscoring the need for a scarce monetary commodity that underpins Bitcoin’s use cases.

Grayscale: The digital economy also needs tools and services that facilitate access and use of encryption: Golden Finance reported that Grayscale officially tweeted that just as the physical world needs roads, bridges, and tunnels, the digital economy also needs to facilitate access and encryption. Using crypto tools and services, this is our first stock ETF we use. Grayscale also mentioned that the global blockchain technology market size is expected to reach $394 billion by 2028, with a compound annual growth rate of more than 80% until 2028. [2022/2/4 9:30:27]

The report noted growing interest in crypto at a time when the number of bitcoins held on exchanges is at an all-time low, with more long-term holdings than short-term speculation.

News | Grayscale: Millennials will invest more in the encryption field in the future: Golden Finance reported that in an investor conference call earlier this month, Barry Silbert, CEO and founder of Grayscale, said that millennials The largest generation in the United States, they are entering their prime earning years. This means that more money will be poured into the crypto space in the future as the younger generation does not seem to be as antipathetic to Bitcoin as the older generation. According to the Grayscale Managed Digital Assets report, GBTC’s AUM has increased by about $800 million in the past month. Interestingly, while Grayscale’s BCH holdings also increased in value by around $1.3 million, its Ethereum holdings increased by 160%. Millennials have shown that they are less risk-averse and have a better understanding of Bitcoin, blockchain technology, and cryptocurrencies in general. [2020/2/26]

Grayscale also noted that daily active-ethexc addresses are at their highest level since their all-time high in 2017.

Voice | Grayscale: Bitcoin is the new gold for modern investors: According to AMBCrypto, the latest research report released by the American digital asset management company Grayscale (Grayscale) pointed out that with the development of currency and payment systems, Bitcoin will continue to threaten And replace gold as the ultimate monetary asset. The report further compared the utility and characteristics of Bitcoin and gold, as well as 7 factors of currency, namely scarcity, verifiability, durability, portability, divisibility, fungibility and recognizability. [2019/6/8]

Quantitative Easing Boosts Cryptocurrencies

The report said loose monetary policy following the abandonment of the gold standard in the United States created a cycle of debt-fueled asset bubbles, followed by aggressive quantitative easing.

Grayscale pointed out that the U.S. economy has become increasingly dependent on quantitative easing (money printing) to stay afloat, and history has shown that this addiction is difficult to kick. The S&P fell 20 percent in three months as the Fed launched a liquidity program in 2018 to reverse monetary expansion.

While the U.S. dollar remains "structurally strong relative to other currencies," the report said investors wary of inflation are looking for ways to protect against an expanding money supply amid "unprecedented monetary and fiscal stimulus." , thereby supporting Bitcoin as a store of value.

Institutional Demand for Bitcoin Increases

Grayscale cites a scoring system used by hedge fund manager Paul Tudor Jones to assess bitcoin's properties relative to cash, gold and financial assets and to determine the market's growth potential.

The report quotes Jones as saying:

"I'm amazed how well Bitcoin scores. Bitcoin's overall score is close to 60% of the financial sector, but its market cap is 1/1200th that of the financial sector. As a store of value, it gets a gold score 66% of gold, but its market value is only 1/60 of the circulation value of gold.”

Jones concluded: "There seems to be something wrong here, and I think it's the price of Bitcoin."


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