Grayscale Continues its Aggressive Bitcoin Buying Spree
For quite some time now, a lot of BTC is being bought up. Some of the purchases are made by existing BTC owners, whereas the rest is ending up in the hands of Grayscale.
Accumulating Bitcoin appears to be a very prominent option these days.
Grayscale Keeps Buying Bitcoin and Ethereum
On the one hand, there are the long-term holders increasing their exposure to Bitcoin.
On the other, there is Grayscale Investments, which keeps buying more and more BTC.
At this time, the company has $4.2 billion in assets under management, which is a more than respectable number.
Compared to just a few months ago, this is a new increase of roughly $2 billion.
While the assets under management do not consist of just Bitcoin , it is the largest allocation of the pooled resources.
It also appears that Grayscale Investment is turning heads among institutional investors.
After all, someone has to be asking for the purchase of additional BTC before the company can do anything.
For some time now, service providers have attempted to cater to institutional traders.
It appears that Grayscale Investment is cracking the code slowly but surely.
For the Bitcoin industry, this is very bullish, although it won’t automatically result in a price increase either.
OhNoCrypto
via https://www.ohnocrypto.com
JP Buntinx, Khareem Sudlow