Cryptocurrency investment firm Grayscale has recently added to its assets and received another 17,100 BTC. Their current value is $ 180 million.
Grayscale, a major investment firm focused on cryptocurrencies, has added 17,100 BTC to its assets in the past few days. The company, which has not added to Bitcoin assets since early September, has increased its position to 449,900 BTC since September 23. According to Bybt, who provided data on cryptocurrencies, within just a few days the US-based company entered control of another $ 182 million worth of Bitcoin at today’s prices. The dollar equivalent of the total amount of Bitcoin controlled by the company is $ 4 billion 800 million.
— Bybt (@bybt_com) September 27, 2020
These BTCs may be purchased directly by Grayscale, or institutions may also store BTC purchased with Grayscale. Either way, this can be thought of as an indication of the confidence institutional investors have in the future of Bitcoin.
Recently, MicroStrategy, a US-based large business intelligence company, purchased 38,250 BTC. It is predicted that MicroStrategy’s rapid move will enable many other companies to jump on the train.
The largest cryptocurrency by market cap has been following a horizontal trend in recent days. Bitcoin changes hands at $ 10,650 in the minutes of the news.