Fund Managers Think Digital Dollar Will Not Have a Negative Impact on BTC

Micheal Sonnenshein and Greg King stated that they think that the digital dollar will not negatively affect Bitcoin.

Fund managers think that the digital dollar will not have a negative impact on BTC. Speaking to CNBC, Grayscale's Micheal Sonnenshein and Osprey Funds' Greg King argued that the tendency of central banks around the world to digitize their fiat currencies could lead more investors to cryptocurrencies. Sonnenshein, CEO of Grayscale, one of the largest cryptocurrency-focused investment companies, said: “Central banks digital currencies cannot replace and compete with decentralized currencies such as Bitcoin. I think these are all trends towards the digitalization of money and something that could also attract investors and the average person who is not in the investment market.”

People Will Adopt Cryptocurrencies

Grag King, the CEO and founder of Bitcoin fund company Osprey, said, “Although Bitcoin has not yet adequately positioned itself as a payment mechanism, its role as a store of value may be strengthened by the launch of government-backed digital currencies. Let's imagine that the world's fiat currencies are digitized. In fact, I think this will push more and more people into Bitcoin, because the digitization of fiat currencies will give governments more control over the money supply than now, and many people are already investing in Bitcoin because they are worried about such controls.” Both leading fund managers predict that Bitcoin will gain strength during the year with a global adoption. Expressing that he expects the bull market in Bitcoin to continue, Greg King said: “We think the price will go higher. If 40 thousand dollars is broken clearly, it will continue on its way. As a company, we have a medium and long-term perspective. Therefore, the current levels are a good buying opportunity in my opinion.”