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Grayscale Acquires $1,276,147,151 in Bitcoin in Single Week

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Fri, 01/22/2021 - 09:03
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Yuri Molchan
Grayscale has filed a report with the SEC, stating that in a week since the previous report was filed, the company acquired a whopping $1.27 billion worth of Bitcoin
Grayscale Acquires $1,276,147,151 in Bitcoin in Single Week
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According to a sales report filed by Grayscale Investments with the U.S. Securities and Exchange Commission (SEC) about the number of recently issued GBTC shares, the company has purchased a staggering $1,276,147,151 worth of Bitcoin.

Grayscale rakes in $1.27 billion in Bitcoin

On Jan. 21, Grayscale filed a report with U.S. securities regulator SEC, stating that since the filing date of the previous sales report (Jan. 14), the company has issued 37,036,200 GBTC shares and acquired 35,159.01978857 Bitcoins representing $1,276,147,151.

BTC
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Grayscale is often called the biggest Bitcoin buyer among hedge funds. This fact is also admitted by the most famous Bitcoin hater, Peter Schiff. The company has been raking in funds from BTC chasers at a fast pace.

As reported by U.Today earlier, the subsidiary of Barry Silbert's Digital Currency Group, Grayscale, bought a whopping $300 million worth of Bitcoin in just 24 hours on Jan. 20. That is 8,762 BTC.

According to their recent Q4, 2020 report, in that quarter, the investment company saw massive inflows of BTC totaling $4.7 billion.

Related
Grayscale Acquires $300 Million in Bitcoin in 24 Hours

Grayscale's worth in crypto AUM shrinks as Bitcoin falls

On Jan. 21, Bitcoin demonstrated a sudden pullback, briefly reaching a low of $28,953 from $32,615, according to data shared by CoinMarketCap.

At press time, the flagship cryptocurrency has restored to the $30,874 level.

Thus, the aforementioned amount of BTC acquired by Grayscale shrank from $1,276,147,151 to its current value of $1,090,934,547.

Besides, the aggregated amount of crypto assets in company management has gone down from $27.2 billion to $25.5 billion.

The share of Bitcoin on this list is $21,036 billion compared to $22,482 billion, revealed in the previous Grayscale tweet.

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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.