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Grayscale Grabs Another 12,000 BTC Despite Suspending Funds Inflow

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Wed, 12/23/2020 - 08:04
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Yuri Molchan
Grayscale existing customers are still hungry for Bitcoin and the company has acquired another 12,000 BTC despite suspending inflows into its crypto trusts
Grayscale Grabs Another 12,000 BTC Despite Suspending Funds Inflow
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Capriole Investments cofounder, Jan Uytenhout, has shared data according to which Grayscale's existing customers still long to get more Bitcoin.

This is happening despite the company having temporarily suspended accepting funds into its Bitcoin Trust and other trusts based on a few other top cryptos like ETH, LTC and BCH.

BTC
Image via Twitter

Grayscale adds another 12,000 BTC to its holdings

On Dec. 21, large media outlets reported that the "biggest Bitcoin buyer," as Peter Schiff recently referred to it, suspended inflows of cash from investors into its major crypto trusts.

Those include Bitcoin, Litecoin, Ethereum, Bitcoin Cash and a few other coins. Despite this, it seems that the company's clients are still eager to place their money in Bitcoin.

Capriole Investments cofounder Jan Uytenhout has taken to Twitter to share that the company has acquired another gargantuan Bitcoin amount: 12,000 BTC.

This is worth $282,416,400 at the current rate.

As of Dec. 22, Barry Silbert's Grayscale held a total of $15.9 billion in crypto AUM. Now, one can confidently add another $282,416,400 to this sum.

BTC
Image via Twitter

Related
Whales Shift $1,060,198,944 in Bitcoin as BTC Is Back Above $23,000

Bitcoin recovers from below $22,000

On the same day, Dec. 21, the flagship currency showed a sudden reverse and plunged from the $23,800 area, losing around $2,000 to go below $22,000.

However, Bitcoin quickly recovered and, at press time, is sitting at $23,579 per figures from CoinMarketCap.

As the digital gold rate tanked, $789 million worth of crypto was liquidated across various digital exchanges, pushing BTC down.

Cryptocurrency whales also stirred and started to move mammoth-sized amounts of Bitcoin.

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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.