Digital Currency Asset Manager, Grayscale Investments, had a record year in 2018, with institutions and retirement accounts comprising the lion’s share. What’s more, they are increasingly opting for Bitcoin over other altcoin offerings as the cryptocurrency market flatlines.
A Challenging, Yet Record Year
According to Grayscale’s Q4 report, 2018 saw new investment at Grayscale hit a record high of $359.5 million; almost triple that of 2017’s bull-run. However, quarter on quarter, inflows reduced over 60 percent on average to only $31.1 million in Q4.
The breakdown of this figure shows that price falls and the general market slowdown, are changing the average investor profile. As Grayscale Managing Director, Michael Sonnenshein, explained:
It was by no means our best quarter, but it’s certainly important to recognize…