Grayscale Adds $1 Billion in Bitcoin In Merely 24 Hours

Sat, 04/10/2021 - 12:12

Grayscale that offers its clients crypto exposure has purchased a large amount of crypto assets, worth $1 billion, and the acquisition took just one day

Grayscale Adds $1 Billion in Bitcoin In Merely 24 Hours

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The top-tier Bitcoin purchaser, Barry Silbert-related Grayscale, has bought another billion USD worth of BTC and other blockchain-based currencies.

As of Friday, the company stores a total of $46.1 billion versus $45.1 billion it held a day earlier, according to its Twitter handle.

Earlier this week, U.Today reported that the company had purchased massive amounts of the currencies it had added to its holding recently – BAT, LINK, LPT, etc.

Grayscale has set up addition cryptocurrency trusts backed by these popular altcoins.

It has also bought large lumps of XLM, Litecoin and ETC.

Grayscale Acquires Huge Amounts of Recently Added Alts: BAT, MANA, LPT, FIL, LINK

The big news that came from Grayscale this week is that the company intends to turn its Bitcoin-backed trust into an ETF based on Bitcoin.

#Bitcoin News

About the author

Yuri Molchan

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.