Did you ever imagine what you’d do if you had more than 1,000 BTCs? Or better yet, what would you do with 343,594 BTC? Pretty much what we think. However, you’d have to ask Grayscale, who bought a third of all the Bitcoin mined in the last 100 days.
According to its website, Grayscale is a company that provides secure access and diversified exposure to the crypto asset class. So it’s not surprising that their interest in Bitcoin is growing over time.
To be exact, in the last 100 days, Grayscale has increased its holdings and purchased more than 60,000 BTCs. Institutional investors, who make up 88% of Grayscale’s client base, are a key part of this.
The Bitcoin trend remains stable, but…
How do you interpret this action by Grayscale in acquiring Bitcoin so prominently?
There are several conclusions we can draw from this fact. However, before we reach them, we can say that the source of these figures is the actions of the Grayscale Bitcoin Trust. This is the work that r/CryptoCurrency has been doing on Reddit for the last 3 years.
It can be said that this renewed interest was influenced by
- slated to transition
- issued a ban on icos
- released new details
- blockchain infrastructure company
- previous margin offering
- sec broker-dealer guidance
- developing countries like india, for example,
- presented to the sec
- saw the value
- came to an end
Halving, and all the expectation that was generated around it. Therefore, we cannot ignore what the sum of 60,000 BTC represents, which has increased in value from March.
According to the same r/CryptoCurrency report, this considerable increase occurred especially at the end of April. If we look at it in a broader time frame, we will notice that in December of last year the Grayscale Bitcoin Trust fund had only increased by 30,000 BTC from 2018.
Grayscale handles much of the BTC generated in 2020, thanks to the increased interest of institutional investors in this krypton currency.
How to invest in Bitcoin futures with Binance?
In the last 100 days, Grayscale’s ownership of Bitcoin increased twice as much as it did in an entire year. This suggests that investors who were involved in this were holding a bullish expectation, most likely because of Halving.
As the presence of institutional investors in this fund has also increased considerably over the past two years or so, we can say that more are joining the crypt-currency industry every day.
And these figures are only from Grayscale’s Bitcoin-based investment fund, but the same is true for other funds such as Grayscale’s Ethereum Trust.