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....
The investment firm purchased 17,100 BTC in the last week. Crypto fund manager Grayscale Investments has increased the assets under management in its Bitcoin Trust by more than $180 million over the past week.According to data from information platform Bybt, Grayscale added 17,100 Bitcoin (BTC) to the firm’s Bitcoin Trust in the last seven days. The company now has 449,900 total coins under management — worth roughly $4.9 billion with the crypto asset at $10,890, closing above $10,000 every day for the last 63 days.This effectively means Grayscale controls roughly 2.4% of total coin supply....