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Grayscale Now Owns 3% of All Bitcoin in Circulation, Adding 60,000 BTC Over Past Month

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Tue, 01/19/2021 - 12:35
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Yuri Molchan
The largest crypto hedge fund Grayscale now holds 3 percent of all circulating Bitcoin, increasing their crypto holdings by monthly 10 percent on average
Grayscale Now Owns 3% of All Bitcoin in Circulation, Adding 60,000 BTC Over Past Month
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Grayscale Investments now holds a total of three percent of all circulating Bitcoin after acquiring another 16,244 BTC, the equivalent of $607 million, on Jan. 18, Monday.

This was the single largest Bitcoin purchase made in one day.

"Grayscale crypto holdings grow approx 10 percent a month"

The founder of Capriole Investments, Charles Edwards, has taken to Twitter to comment on the news of Grayscale's acquisition of over 16,000 BTC yesterday.

He pointed out that the company's crypto holdings have been increasing by approximately ten percent monthly and assumed that, in 2021, Grayscale may extend its BTC stash more than three timesto 10 percent of all circulating BTC coins.

BTC
Image via Twitter

Bitcoin influencer known as Whale Panda on Twitter specified that yesterday's gargantuan Bitcoin purchase equaled the amount of BTC mined in 18 days (at a rate of 900 Bitcoins per day).

He added that, over the past 30 days, Grayscale has acquired 60,000 BTC, or the equivalent of two months of miners' work, while, during this time, the Grayscale Bitcoin Trust was closed for three weeks and resumed accepting inflows from investors only recently.

Yesterday 16k BTC was added which is the equivalent of 18 days of new coins being mined (900 per day). Over the last 30 days it was 60k BTC which is more than 2 months of mining...and the trust was closed for 3 weeks.

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Peter Schiff accuses CNBC of pumping Bitcoin for Grayscale on TV

Barry Silbert, founder of Grayscale's parent company, Digital Currency Group, has taken to Twitter to share a recent interview with Bitcoin critic Peter Schiff on Kitco News.

BTC
Image via Twitter

In this video, the vocal Bitcoin hater and gold bug has repeated his earlier allegation about CNBC and Grayscale. Schiff believes that Grayscale is the biggest advertiser on CNBC and, for that reason, the popular news company is pumping Bitcoin, talking only to pro-Bitcoin guests and never sharing any bearish forecastsonly bullish ones.

Previously, Peter Schiff stated that he had never been invited to talk about Bitcoin and gold with CNBC but only such Bitcoiners as Anthony Pompliano were.

Despite that, Peter Schiff's statements against Bitcoinin which he curses BTC as a false store of valuehis precious gold has not yet surpassed the all-time high of $2,063 per ounce reached by XAU last August.

At press time, gold is changing hands at $1,840 per ounce, while Bitcoin recently reached a new all-time high at $42,000. It currently sits at $37,396, as per the Kraken chart on TradingView.

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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.