Grayscale Has Purchased Almost 20,000 More Bitcoins

Kataryna Kovtun June 26, 2020


Over the past week, Grayscale Investments invested about $ 184 million in bitcoin.

Thus, Grayscale acquired 19,879 BTC and now it controls approximately 400,000 coins. This was reported on Twitter by analyst Kevin Rooke.

At the same time, he emphasized that Grayscale bought more bitcoins than miners were able to mine since the so-called halving, which took place on May 11 (reduction of the block mining reward). 53 599 coins were bought, for the same period, miners were able to mine 39 544 bitcoins.

On average, a company bought 1,190 BTC daily.

Grayscale Investments Ramps up Bitcoin

If the financial giant continues to invest in cryptocurrencies at the same pace, then by January 2021, the company will control about 3.4% of the entire world supply of bitcoin. By 2024, this figure will increase to 10%, observers predict.

Grayscale founder Barry Silbert recently announced that his team will continue to increase investment in BTC. He added that only on June 24, the Grayscale portfolio was replenished by about 10,000 BTC ($ 92.2 million). Barry called this day a record in the history of the fund. The total volume of all cryptocurrencies under management exceeded $ 4.1 billion.

In parallel, the company is actively buying ether (ETH). In 2020, it invested $ 110 million in this asset. In total, the company controls ETH coins totalling up to $ 396 million.

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