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Grayscale Adds $1.6 Billion in Bitcoin, XLM, MANA, BAT, LTC Over Weekend

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Tue, 04/13/2021 - 11:23
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Yuri Molchan
Over the weekend and in the past month in general, Grayscale has increased its holdings of BTC and other cryptocurrencies, including recently launched altcoin trusts
Grayscale Adds $1.6 Billion in Bitcoin, XLM, MANA, BAT, LTC Over Weekend
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Barry Silbert-affiliated Grayscale Investments fund has bought more cryptocurrencies since Friday, adding a whopping $1.6 billion in Bitcoin and other crypto coins to its storage available to investors.

Over the past 30 days, as the Bybt analytics platform shows, the company has acquired many altcoins, including the ones added recently and used for the launch of new crypto trusts.

Grayscale keeps acquiring cryptocurrencies

On its official Twitter page, Grayscale has announced that, as of April 12, the company holds $47.7 billion worth of digital currencies, including Bitcoin, Ethereum, Litecoin and others.

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Image via Twitter

On Friday of last week, this figure was a little bit smaller but still impressive: $46.1 billion worth of crypto.

Since Friday, the company has purchased almost $1 billion in the biggest cryptocurrency by market capitalization: Bitcoin. The rest of the aforementioned amount is related to altcoins.

Over the past months, Grayscale has also purchased quite a large amount of popular altcoins, such as Stellar, Litecoin and those it has added recently and launched new crypto trust on.

According to the Bybt website, in the past 30 days, the subsidiary of Barry Silbert's DCG has purchased 35,906 LTC; 5,566,271 XLM; 7,764,159 MANA; 281,303 LPT; 1,454,961 BAT; 72,668 LINK and 45,051 FIL.

Related
TIME Magazine to Hold Bitcoin on Its Balance Sheet

Grayscale teams up with Time magazine

On Monday, Grayscale CEO Michael Sonnenshein posted a tweet, spreading the word about a new Grayscale collaborationthis time with the legendary Time magazine.

Together the companies plan to launch a series of videos on crypto to educate those who still do not know what crypto is about or how it works.

The iconic magazine has agreed to be paid in Bitcoin and it will also hold BTC on its balance sheet. This is the first media giant so far to put the major cryptocurrency on its balance sheet.

Bitcoin prints a new ATH: $62,700

Today, April 13, Bitcoin surged to a new all-time high in the $62,700 area. This occurred exactly one month after the previous historic peak of $61,800.

The major reason for the accelerated growth is tomorrow's direct listing of Coinbase stocks on the Nasdaq.

However, there have been several other smaller factors, such as more institutions embracing Bitcoin and Time magazine and Galaxy Digital filing for a Bitcoin ETF.

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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.