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Grayscale: Acquired 150% of Bitcoin produced by miners in January 2021

The Grayscale company has invested a huge amount in BTC by acquiring 150% of those produced by the miners

BTC Grayscale - Grayscale: acquired 150% of Bitcoin produced by miners in January 2021

Grayscale the asset management company that invests in the field of cryptocurrency currently owns 150% of Bitcoin that the miners managed to produce during the January 2021. 

The value of the acquired BTCs is really very high. In fact, 41,430 BTC were bought for a total value of 2 billion dollars considering the exchange rate at the current Bitcoin price. In December 2020, Grayscale announced the purchase of 13 billion BTC. 

In accordance to reported by the Coin98 Twitter account, which deals with data analysis for blockchain he pointed out that Grayscale is currently in possession of 649,99 thousand BTC, of ​​which 881 purchased in the last week.

Grayscale: not just Bitcoin

La Grayscale didn't just invest in BTC but also in other cryptocurrencies. For example, he also currently owns three million Ethereum, for a total value of $ 5,4 billion. The fund has also chosen to invest in other digital currencies such as Bitcoin Cash, Ethereum Classic, Litecoin, Stellar Lumens and Zcash. It should be noted that Grayscale does not hold any percentage of XRP, most likely this is due to the fact of the cause of the SEC, which it sees involved Ripple which is currently suspected of being a security. For this reason Grayscale completely removed the XRP trust. 

Grayscale has currently exceeded $ 30 billion in fund management within a few years of its founding. 80% of these funds are within the Bitcoin Trust while 16% in the Ethereum Trust. Obviously the fund is not a direct investor but a passive one. The Grayscale in fact, it allows customers to expose themselves to assets crypto without having to own or buy them directly.

This means that the Grayscale does not make purchases for itself but works on behalf of institutional and fund investors who are looking for a custodian for their cryptocurrencies in order to assure its customers on the safety of digital currencies.

Finally, we must underline that 30 billion of managed capital at the moment corresponds practically to 2,6% of the capitalization of all the digital cryptocurrencies currently listed on CoinMarketCap.

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Silvia Faenza

Graduated in Political Science and International Relations at the University of Salento, in the 2014. From 2015 he is in charge of content management for online companies and publishing agencies, mainly as a ghostwriter, copywriter and web editor.

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