Grayscale CEO Describes Six Key Factors That Will Impact The Cryptocurrency Market In 2021

According to Michael Sonnenshein, across the adoption organization, good governance and the growth of the cryptocurrency mining industry in North America are just some of the factors that will affect the economy in 2021. In the eyes of JP Morgan analysts, grayscale has become the key to whether BTC can return to $40,000 in a short period of time due to the size of the BTC it holds.

President Michael Sonnenshein has elected new Greyscale Investments, believing that 2021 will be another important year for digital investing. This is because the investment company and the national adoption agency are driving the bull market forward.

In his keynote address at this year's virtual conference, CFC St. Moritz, Sonnenshein identified three key factors for investing in Bitcoin (BTC) performance very well in 2020.The regulatory environment of the trading environment is uncertain and many solutions, including legendary investors and BTC trading partners, and digital assets continue to grow.

Sonnenshein believes this gap will continue in 2021 as many investors are different on Bitcoin and other digital assets.He also pointed out a few other concepts that could shape the digital currency industry in the future.

Here are the six points investors should focus on in 2021, according to Sonnenshein.

Reduce operational risks by investing in digital tools

Increased interest in financial advisors

Progress in North America and Clean Energy Crypto Mining

Strengthening Stabilitycoin integration

Countries that receive digital assets

Create new rules

Speaking of adoption in the country, Sonnenshein believes this will include the central bank's digital currency CBDC engine and the possibility of adding Bitcoin to some of the government's key strategic reserves.

Among miners, he said Grayscale's sister company Foundry has become the largest cryptocurrency miner in North America.

Digital Financial Group, a company that operates Greyscale and Foundry, announced last year that it would invest $ 100 million in the Bitcoin mine and other assets in North America.

Grayscale venture capital products have become a pioneer in the field of digital heritage applications. Enterprise asset management (AUM) has grown from $ 2 billion at the start of 2020 to over $ 20 billion by the end of the year.Growth has yet to stabilize, with total assets under management reaching $28.1 billion as of January 19.

"Hloov kho 01/19/21: NAV, equity per share and price per share for our investments.

Total outstanding: $ 28.1 billion including BTC, BCH, ETH, ETC, ZEN, LTC, XLM, ZEC

- Grayscale (@grey levels) January 19, 2021 "

The gray scale, which accounts for around 3% of Bitcoin transactions, appears to have an impact on the value of BTC.JP Morgan experts, led by Nikolas Panigirtzoglou, see investment markets as the key to Bitcoin's recovery above $40,000 in the near term. To achieve this, Grayscale must manage a stable purchase price of $100 million per day.