Bitcoin No Longer a Passing Fancy, Asserts Grayscale CEO Michael Sonnenshein

In a statement that reaffirms Bitcoin‘s (BTC) robust standing in the market, Grayscale CEO Michael Sonnenshein recently declared that the preeminent cryptocurrency is no longer a passing craze. This assertion stems from the fact that the world’s most significant asset management firms have entered a heated race to offer a spot Bitcoin exchange-traded fund (ETF). “Bitcoin No Longer a Passing Fancy” In a conversation with The Block, Sonnenshein argued that the entry of heavyweight investment firms such as BlackRock and Fidelity into the race to provide a spot Bitcoin ETF underscores that Bitcoin is far from being a fleeting fad. He indicated that market participants have reacted positively to the entrance of these traditional financial institutions into the Bitcoin market, bestowing further legitimacy onto an asset that was once considered a transient interest. As we know, BlackRock, the world’s largest asset management company, knocked on the door of the U.S. […] The post Bitcoin No Longer a Passing Fancy, Asserts Grayscale CEO Michael Sonnenshein appeared first on COINTURK NEWS.