Grayscale buys Bitcoin for $ 255 million

The largest asset manager in the world, Grayscale, stocks up another 7756 Bitcoin. That comes from a document from the SEC.

The Grayscale Bitcoin Trust has made further investments in digital gold

This comes from a form from the American Securities and Exchange Commission (SEC). According to it, the world’s largest digital asset manager bought 7,756 Bitcoin worth more than $ 255 million. In addition, the trust issued another 8 million shares at a price of 0.001 BTC each. Grayscale has thus issued a little more than 684 million shares – for the equivalent of around 684,000 Bitcoin. However, only accredited investors with an annual income of at least 100,000 US dollars can invest. Investors buy Bitcoin at the current price and can sell it again after a minimum holding period of six months.

According to bitcointreasuries, Grayscale now manages over 616,000 BTC in total

At the current exchange rate, the equivalent of the Grayscale Bitcoin Trust (GBTC) is just under 23 billion US dollars. As the asset manager reveals in the latest quarterly report, Bitcoin inflows amounted to almost 194 percent of all Bitcoin mined in Q4 2020 alone, with institutional customers accounting for 93 percent of the capital inflows. Even according to cautious estimates that do not take into account the Bitcoin that has been lost over the years, Grayscale holds around 3 percent of the global amount in circulation.

In doing so, Grayscale also proves that it can quickly dispose of unfavorable assets. Ripple’s XRP, for example, had to experience this. The asset manager unceremoniously dissolved his XRP trust after various crypto exchanges had removed all XRP trading pairs. The background is the current proceedings between the American SEC and the Californian FinTech. The SEC accuses Ripple of trading an unannounced security with its cryptocurrency XRP .