Grayscale now holds more than 500,000 BTC, roughly 2.7% of the total supply!

LeoFinance
5 days ago
1 Min Read
250 Words

Grayscale continues to gobble up all the available Bitcoin

In a recent post by Grayscale, and subsequent filing, they revealed that they now hold over 500,000 BTC.

Their announcement can be seen here:

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(Source: https://twitter.com/Grayscale/status/1328432925780701185)

That 500,000 BTC represents roughly 2.7% of the entire bitcoin supply.

For those doing the math, that 500,000 BTC is roughly $8.5 billion USD based on a $17k BTC price.

All things that make you say, wow!

Total assets under managemnet now over $10 billion...

Grayscale also released a filing showing all their assets under management, including the amounts they hold in other crypto investment trusts outside of bitcoin.

The filing can be seen here:

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(Source: https://twitter.com/Grayscale/status/1328815176154492929/photo/1)

The total amount of assets under management at Grayscale now exceeds $10 billion.

When they launched this fund several years back I don't think in their wildest dreams they every would have thought it would be worth more than $10 billion in less than a decade's time.

On that note, it's probably about to be a lot more valuable in the near future as bitcoin looks like it may have a blow off top of sorts here in the next couple days or weeks.

It is basically going straight up right now with no pullbacks to speak of.

I would not be surprised to see a big surge followed by a decent sized correction before it ultimately builds back up for the next leg higher.

Stay informed my friends.

-Doc

Posted Using LeoFinance Beta