Grayscale has a third of the total Bitcoin mined this year
The interest of many investors in BTC increased considerably, and this is demonstrated by the Grayscale Bitcoin Trust, which owns 1/3 of the total mined 100 days ago.
Have you ever imagined what you would do if you had more than 1,000 BTC? Or better yet, what would you do with 343,594 BTC? Enough for what we believe. However, you should ask Grayscale, which bought a third of the total bitcoin mined for 100 days.
According to its website, Grayscale is a company that provides secure access and diversified exposure to the cryptocurrency asset class. So it’s no wonder that their interest in Bitcoin increases as time goes by.
To be exact, in the last 100 days, Grayscale has increased its holdings and bought over 60,000 BTC. Institutional investors, who make up 88% of Grayscale’s client portfolio, are a fundamental part of this.
How is this action of Grayscale interpreted when acquiring Bitcoin so notoriously?
There are several conclusions that we can draw from this fact. However, before reaching them we can say that the source of these figures is the movements of the Grayscale Bitcoin Trust. This is the work that r / CryptoCurrency has been carrying out on Reddit for 3 years.
It can be said that this renewed interest was influenced by the Halving of Bitcoin, and all the expectations that were generated around it. Therefore, we cannot ignore what the sum of 60,000 BTC represents, which has increased in value compared to March.
According to that same r / CryptoCurrency report, this sizable increase occurred especially in late April. If we look at it in a broader time frame, we will notice that in December last year the Grayscale Bitcoin Trust fund had only increased 30,000 BTC compared to 2018.
Grayscale handles much of the BTC generated in 2020, thanks to increased interest from institutional investors in this cryptocurrency.
In the past 100 days, Grayscale’s holding of Bitcoin increased twice as much as it did in an entire year. With this, we infer that the investors who participated in this maintained a bullish expectation, most likely due to Halving.
As the presence of institutional investors in this fund has also increased considerably for about two years, we can say that more and more people are joining the cryptocurrency industry every day.
And these figures are only from the Grayscale investment fund based on Bitcoin, but the same is true of other funds such as the Grayscale Ethereum Trust.
In its most recent update of the funds they manage, Grayscale reported a total increase of US $ 3.8 billion, where evidently the one with the most investments is the Grayscale Bitcoin Trust.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.