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Grayscale Bought over 60,000 BTC in 100 Days

Yiran Dai

Summary: Grayscale Bitcoin Trust (GBTC) has expanded its BTC holding by over 60,000 in the past 100 days, according to independent research on Reddit’s Cryptocurrency section.

Grayscale Bitcoin Trust (GBTC) has expanded its BTC holding by over 60,000 in the past 100 days, according to independent research on Reddit’s Cryptocurrency section. 

The research recorded the number of BTC owned by Grayscale on Feb. 7 as 283,192, and on May 17, that number has soared to 343,954, an increase of 60,762 bitcoins, which means that Grayscale has bought a third of all bitcoins minted in the last 100 days. The 60,762 coins will be locked for six months.

Grayscale is a digital asset management company. The majority of its customers are institutional investors. As stated by CryptoPotato, a large-scale bullish inflow may indicate a positive attitude from businesses. 

By Yiran Dai

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