Square and Grayscale Accumulated $2.3b Worth of Bitcoin Over Q3
Bitcoin has undergone a strong surge over the past few months. Data indicates that this rally is a result of mass accumulation by both retail and institutional players through venues like Square and Grayscale. Square and Grayscale alone have accumulated $2.3 billion worth of Bitcoin in the past quarter. For context, Bitcoin miners brought in around $1 billion worth of BTC over the course of the past quarter. Institutions Accumulate Bitcoin En-Masse: Data Bitcoin has […]
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BTC continues to be accumulated by Grayscale, a leading digital asset fund manager. It was noted that the firm’s leading Bitcoin Trust added 12,319 BTC to its coffers in a single day. Bitcoin Continues to Be Accumulated by Grayscale Bitcoin continues to be accumulated by Grayscale, a leading digital asset fund manager. Kevin Rooke, a technology analyst, noted that “Grayscale’s Bitcoin Trust just added 12,319 BTC to $GBTC in a single day. That’s more than […]
Grayscale’s Bitcoin Trust now holds more than 500,000 Bitcoin, surpassing $8.3 billion in value. Cryptocurrency fund manager Grayscale Investments now holds more than 500,000 BTC in its Bitcoin Trust. According to a Nov. 16 post, Grayscale now holds to $8.35 billion worth of Bitcoin— equating to 2.69% of Bitcoin’s (BTC) outstanding supply and market cap. But with Chainalysis estimating that around 3.7 million BTC have been lost, Grayscale may actually now be in possession of 3.37% of Bitcoin’s remaining circulating supplyAppealing to institutional investors who are prepared to pay a....
While asset managers have accumulated 4% of Bitcoin’s supply, private and public companies have also amassed 1% each. Around 6% of Bitcoin’s circulating supply has been accumulated by asset managers and companies, signaling ever increasing mainstream and institutional adoption of crypto assets.According to Buy Bitcoin Worldwide, 816,379 BTC worth $40.1 billion is currently held by 14 Bitcoin fund issuers and asset managers — representing 4% of the cryptocurrency’s supply. Industry leader, the Grayscale Bitcoin Trust, represents more than 3% of the Bitcoin supply, managing 654,600 BTC....
Square Inc. has put 1% of its total assets in bitcoin worth about $50 million. The company believes that “cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system.” Square’s Major Bitcoin Buy Square Inc. announced Thursday that it has bought approximately 4,709 bitcoins at an aggregate purchase price of $50 million. The NYSE-listed company (NYSE: SQ) with a market cap of $81 billion provides software and hardware payments products and small business services. The San Francisco-based company has....
During the last seven days, Grayscale Investments purchased 17,100 BTC or $182 million worth of bitcoin using today’s exchange rates. The company’s bitcoin position is now close to 450,000 BTC worth roughly $4.7 billion. The Grayscale Bitcoin Trust (GBTC) is a very popular investment vehicle and in 2020 the trust has obtained a massive amount of BTC. Today, GBTC has $4.7 billion assets under management (AUM), according to data provided by bybt.com. Grayscale’s bitcoin position is also displayed on the company website as well for transparency purposes. Since the Grayscale....