Main navigation

Grayscale Acquires Close to 1 Billion in Crypto In Single Day

News
Sat, 05/01/2021 - 18:39
article image
Yuri Molchan
Grayscale crypto fund has added almost $1 billion worth of Bitcoin and altcoins in just twenty-four hours
Grayscale Acquires Close to 1 Billion in Crypto In Single Day
Cover image via stock.adobe.com
Read U.TODAY on
Google News

According to the Twitter account of Grayscale Investments firm that offers its customers exposure to multiple cryptocurrencies, it has added an equivalent of $0.8 billion in crypto in merely twenty-four hours.

As of Friday, April 30, the company holds $46.7 billion in crypto AUM.

7416_0
Image via Twitter

Related
Bitcoin Mining May Be Harmed as China Seeks to Call Off Energy-Consuming Projects: Insider Colin Wu

The rise in the amount of Bitcoin and other digital currencies in Grayscale’s management is likely down to the rise of the BTC price from the $54,900 area to the $57,146 high that happened within April 29 and April 30.

Besides, according to Bybt blockchain service, Grayscale has been acquiring large amounts of altcoins this week – XLM, MANA, LPT, FIL and LINK.

The largest amount bought is that of XLM – 259,003 over the past week.

article image
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.