Grayscale Purchases $ 690 Million Bitcoin


According to data from Grayscale, the famous investment firm has purchased at least $ 690 million worth of Bitcoin (BTC) since April.

The table shared by a Reddit user matches the data shared by Grayscale. As we can see from the table, Grayscale has purchased 78,354 BTC in the last 100 days.

When we examine the table in detail, there is a serious increase in the number of BTC Grayscale bought, especially after April.

Institutions, and especially large investors in the US, usually make such transactions through Grayscale when purchasing Bitcoin. Grayscale provides its investors with the necessary support to keep their assets and invest securely.

We can see that the increase in the bitcoin buying rate of Grayscale gained momentum after the historical collapse that took place on March 12 and passed to the markets as “Black Thursday”. Five months ago, after the $ one billion futures contracts were liquidated, BTC had dropped to the $ 3,600 level.

According to the data obtained, we can say that investors have been buying Bitcoin aggressively since March 12. The roughly 800 BTC Grayscale has bought every day for the past 100 days accounts for about 85% of all newly minted Bitcoin supply. Users who choose Grayscale do not have to deal with private keys or trading phases and authorize Grayscale to deal with them on their own.

Despite the uncertainty in the global economy, the increasing number of institutional investors can be said to be a proof that Bitcoin is seen as a potential asset against inflation. Especially, the increasing number of institutional Bitcoin investors in the USA is very important for the future of Bitcoin. If the increase in the number of institutional investors continues in this way, the leading cryptocurrency can reach an all-time high again.

See Also
Grayscale explains why it bought a huge amount of Bitcoin


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