Grayscale explains why it bought a huge amount of Bitcoin

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The crypto investment company Grayscale has $ 4 billion in assets under its management today. The assets managed by the company have increased by almost 100 percent over the past year, and Bitcoin accounts for the vast majority of these assets. A manager of the company clarified why Grayscale bought so much Bitcoin and drew attention to the interest of the institutions.

The assets under the management of the crypto investment company Grayscale are growing day by day. According to the company’s latest figures, Grayscale currently has $ 4 billion in cryptocurrencies.

According to Ray Sharif-Askary, the investor relations manager of Grayscale Investments, free investment funds and other financial institutions have transferred $ 1.9 billion to Grayscale’s Bitcoin and crypto funds in the past year.

In the same period of last year, the total value of the assets managed by the company was $ 2.1 billion. At the point reached today, the number is almost twice that.

“We have never seen such a demand before”

In a podcast broadcast he hosted, Sharif-Askary stated that 2020 is the year of macro instability and unprecedented monetary incentive policies so far, institutions are looking for alternative assets to survive the crisis. Sharif-Askary said, “We left a record quarter for us. Frankly, we have never seen such a demand for our products before. ” He said that most of the buyers are traditional free investment funds.

Grayscale manager added that customers are now more diversifying their portfolios with altcoins compared to previous periods. 38 percent of the company’s customers also have investments outside of Bitcoin, with an increase of 9 percent compared to last year.

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