Grayscale Gains $1.9 Billion in Crypto in One Day, While Bitcoin Market Cap Hits Record $700 Billion

News
Thu, 01/07/2021 - 09:19
article image
Yuri Molchan
Grayscale acquires almost $2 billion in Bitcoin and other crypto in merely one day; meanwhile Bitcoin has turned into a $700 billion market cap asset
Grayscale Gains $1.9 Billion in Crypto in One Day, While Bitcoin Market Cap Hits Record $700 Billion
Cover image via stock.adobe.com
Contents

The world's largest crypto management fund, Grayscale, has increased its crypto holdings by almost $2 billion in merely one day (as of Jan. 6).

In the meantime, Bitcoin's market capitalization has reached a new all-time high of $700 billion, according to the tweet by Anthony Pompliano.

Grayscale now holds $25.2 billion in crypto AUM

Grayscale Investments fund, spearheaded by Barry Silbert, has announced on its Twitter page that the total amount of crypto AUM it holds now equals a mammoth $25.2 billion.

The announcement was made on Jan. 6.

This is $1.9 billion more than a day before, when the company held $23.3 billion in crypto on Jan. 5.

BTC
Image via Twitter

Peter Schiff takes another jab at Grayscale and CNBC

Major Bitcoin opponent and gold investor Peter Schiff has recently trolled CNBC for what he called appeasing Grayscale...again.

On Jan. 6, CNBC's Squawk Box show brought on Kevin Warsh, a former Federal Reserve governor, as a guest and asked him to comment on the current Bitcoin rally.

Warsh responded positively, saying that Bitcoin's fast growth makes sense in the current environment with the weakening USD.

Peter Schiff tweeted that the CNBC host wasted the guest's time on Bitcoin in order to "pump their favorite asset and appease their largest advertiser"which is Grayscale, with its revived "Drop Gold" Bitcoin promotion campaign.

Besides, as reported previously by U.Today, in 2021, the company intends to come up with a new ad for BTC.

Related Peter Brandt Weighs In On Bitcoin’s Historic Ascent to $37,000
Related
Peter Brandt Weighs In On Bitcoin’s Historic Ascent to $37,000

Bitcoin market cap tops $700 billion

Earlier today, Bitcoin influencer Anthony Pompliano took to Twitter to announce that Bitcoin had reached another all-time highthis time in the value of its market cap.

Pomp tweeted that BTC was worth a whopping $700 billion. At press time, however, this metric value equals $690 billion.

This is more than the market cap of Chinese company Alibaba, Samsung, Warren Buffett's Berkshire Hathaway, Visa, Mastercard and JP Morgan Chase.

Bitcoin itself has surged to another all-time high, spiking above the $37,000 level.

BTC
Image via companiesmarketcap
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.