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Meet the company in control of 500.000 Bitcoins

Photo of: Nathan VDH
by Nathan VDH

The asset manager continues to amass Bitcoin for its investors. In one week, Grayscale acquired an additional 15,114 Bitcoins for $241 million. Its Grayscale Bitcoin Trust (GBTC) now holds 506,000 Bitcoin for a total of $8.2 billion.

How far will the appetite of Grayscale and its investor clients go? The threshold of 500,000 Bitcoin under management has now been reached for the US asset manager. Last week, the asset manager acquired 15,114 additional Bitcoins.

On behalf of its clients, Grayscale is spending an additional $241 million to add to its portfolio of cryptocurrency. With this new purchase on the market, the fund now totals 506,000 Bitcoin.

Its Grayscale Bitcoin Trust (GBTC) now totals $8.2 billion. However, Bitcoin is not the only asset under management. In total, the company holds almost $10 billion in cryptocurrency. This includes Ether, Bitcoin Cash, Stellar, XRP and Litecoin.

However, Grayscale’s main crypto asset is Bitcoin. The fund manager is even one of the largest buyers. These investments account for no less than 2.29% of Bitcoin’s total capitalization,” says Decrypt.

Among the listed companies, Grayscale is even the first Bitcoin holder according to Bitcointreasuries.org. All these players together represent 814,359 Bitcoins. Grayscale’s share now exceeds 60%.

The figures of the Bitcoin Trust undoubtedly reflect the strong investor interest in Bitcoin in 2020. It was created in 2013, but this year is the year in which it shows the strongest growth.

In January of this year, assets under management totaled $1.9 billion. In just nine months, assets under management had already reached $4.7 billion. And on average, an additional $39.5 million was being added to Bitcoin Trust every week.

But since the third quarter, the value has been $55 million. And that number is expected to continue to grow in the coming months. According to the Bitcoin Investor Study, US investor interest in Bitcoin is 55%, compared to 36% in 2019.