Cryptocurrency with Michael Sonnenshein

In this episode, Leah Jones, Director of Financial Planning for Hightower Bethesda, talks to Michael Sonnenshein, CEO of Grayscale Investments, the world largest digital currency asset manager. Michael oversees the strategic director and growth of the business and maintains relationships with key stakeholders. Michael talks about cryptocurrency, what it is, why it’s a polarizing topic and the rationale for owning it. He explains the differences between cryptocurrencies and how it can fit into someone’s portfolio. He also discusses how a company like Grayscale does due diligence on cryptocurrencies and how transparency and compliance come into play.

 

“There is very much a real world scenario where these exist side by side, both decentralized digital currencies, like BitCoin, along with a centralized digital currency like the US dollar.” -Michael Sonnenshein [23:45]

 

What You Will Learn:

 

• [02:09] What is cryptocurrency
• [04:54] Differences between the cryptocurrencies
• [06:43] How does someone evaluate a cryptocurrency
• [09:59] The lack of barriers to entry for cryptocurrency
• [16:08] How this could be implemented in the future
• [20:12] How companies can accept cryptocurrency
• [24:01] How Grayscale identify, evaluate and keep up with products
• [26:14] Transparency, compliance and taxes
• [30:19] Michael’s thoughts on Elon Musk and the media

 

Our Contacts:

Website: bethesda.hightoweradvisors.com

LinkedIn: Hightower Bethesda

Facebook: HightowerBethesda

Twitter: @LeahPlans4You

 

Guest’s Contacts:

LinkedIn: Michael Sonnenshein

Twitter: @Sonnenshein