The Ledger
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Sonnenshein: Institutional allocators are rotating out of gold funds into Bitcoin
“Some investors are carving out some of their gold allocation and moving it into digital assets like Bitcoin. We don't find it the least bit coincidental that we saw some of the largest outflows on record from gold funds in Q four of last year when Bitcoin star…”
Sonnenshein: Bitcoin mining is predominantly powered by renewable energy sources
“Bitcoin mining and the fact that it's more often than not done with renewable energy sources, and that's another big misconception that's out there.”
Sonnenshein: Grayscale is the PIMCO or Vanguard of digital currencies
“So Grayscale is the world's largest digital currency asset manager, and so Grayscale is to digital currencies, maybe what PIMCO is to bonds or Vanguard is to indices.”
Sonnenshein: Grayscale publicly traded products persistently trade at NAV premiums
“In pretty much all instances, to your point, on the public market, these products have persistently traded at premiums to their net asset values, and it's important to share, one, we don't trade in the public market.”
Sonnenshein: Grayscale manages $40 billion in crypto assets as of 2021
“And let's see, seven and a half years later, I'm now CEO of the company and we manage forty billion dollars.”
Sonnenshein: GBTC accounts for about 80% to 82% of Grayscale AUM
“Bitcoin, or the Grayscale Bitcoin Trust is now probably occupying, let's see, call it about 80, 82% of our AUM, which has actually been coming down in value. It actually used to constitute A larger percentage of the Grayscale product families AUM.”