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50% of Bitcoin (BTC) Mined in Q1 2020 Bought by Two Investment Companies

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Thu, 05/07/2020 - 08:45
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Yuri Molchan
Recent data shows that two major companies have bought half of the Bitcoin mined so far this year for their institutional and retail customers
50% of Bitcoin (BTC) Mined in Q1 2020 Bought by Two Investment Companies
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As the Bitcoin price is expected to surge soon, both retail and institutional investors seem to be buying Bitcoin in large amounts.

Recent data has it that two major companies dealing with crypto are reported to have purchased over fifty percent of the BTC produced so far this year.

Grayscale, CashApp grabbing Bitcoin

With growing interest in Bitcoin this year, statistics say that investors have been purchasing extremely large amounts of it.

Grayscale (a crypto investment fund) and CashApp (an application for online payments and banking) are reported to have bought slightly over fifty percent of all of the BTC coins that have been minted by miners in the first quarter of 2020.

This data was shared on Twitter by investor and trader Alistair Milne.

The Editor in Chief of Marty's Ƀent has reported similar information.

"Even more people are #stackingsats on the @CashApp"

Earlier, U.Today reported that Wall Street may be holding up to five percent of all circulating Bitcoin – that’s 900,000 BTC.

Related
Mark Yusko Explains Rationale Behind His $400,000 Bitcoin (BTC) Price Prediction

Major VC investor is buying a lot of BTC

A co-founder of Morgan Creek Digital, Jason A. Williams, has taken to Twitter to share that he has also been purchasing large amounts of Bitcoin these days.

When asked what he means by ‘a lot of BTC’, Williams responded – ‘a nice house’, apparently referring to the amount of funds he has invested in BTC.

Morgan Creek Digital is also a venture investment fund that helps institutional investors manage their cash. As its other co-founder Anthony Pompliano previously said many times, the fund has been making a lot of investments in BTC for their clients.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.