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Grayscale has bought 60,000 bitcoins in the last 100 days and has up to 343,594 BTCs

May 20, 2020

In the past 100 days, Grayscale has increased its holdings and bought more than 60,000 bitcoins.

The billion dollar purchase of grayscale would make up about 1/3 of all Bitcoin produced in the reporting period.

Given that 88% of Grayscale’s customers are institutional investors, this is viewed as optimistic about the introduction of Bitcoin by commercial institutions.

Grayscale already has 343 thousand bitcoins

Grayscale has bought 60,000 bitcoins in the last 100 days and has up to 343,594 BTCs
Grayscale has bought 60,000 bitcoins in the last 100 days and has up to 343,594 BTCs

Reddit r / CryptoCurrency has been tracking the actions of the Grayscale Bitcoin Trust (GBTC) since 2017.

The report shows that Grayscale’s BTC holdings have recently increased from 283,192 bitcoins to 343,594 bitcoins.

The assets were managed on May 15, 2020, according to the GBTC official website worth around $ 3.3 billion.

“The increase of 60,000 bitcoins in the last 100 days is shown between 33% and 34% of all recently mined bitcoins during this period“says the report in Reddt.

Grayscale

Grayscale is one of the largest cryptocurrency management funds in the world and its flagship is GBTC, a mutual fund based on the market value of Bitcoin.

The transaction volume of 60,000 bitcoins accumulated in just 100 days is very remarkable.

In this regard, there is a hypothesis that bitcoin halving played a key role in this important acquisition.

So the data shows that in the weeks leading up to the halving of Bitcoin, which started in late April, Grayscale’s bitcoin holdings have increased dramatically.

Between December 2018 and December 2019 the number of bitcoins in the Grayscale Trust only increased by 30,000.

As a result, the stocks of grayscale bitcoins began to increase.

If a major cut is made covering the past ten months from July 2019 to May 2020, the number of bitcoins will be shown in the background increased by 80,000 bitcoins.

The Grayscale Digital Asset Report for the first half of 2018 shows this 56% of customers come from institutional investors.

When the report was released in the first quarter of 2020, that number had increased to 88%.

In April this year it was reported that The grayscale Ethereum Trust owns almost 50% of the Ethereum produced in 2020.