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Grayscale Is Buying Bitcoin At Record Rates: $29.9M Per Week

Summary: Cryptocurrency fund investment manager Grayscale Investments, a subsidiary of Barry Silbert's Digital Currency Group, is rumoured to have purchased as much as one-third of all of the new Bitcoins that have been mined over three months preceding the Bitcoin halving that took place on May 12th.Indeed, a researcher going by the name of ‘parakite’ posted ...

Cryptocurrency fund investment manager Grayscale Investments, a subsidiary of Barry Silbert's Digital Currency Group, is rumoured to have purchased as much as one-third of all of the new Bitcoins that have been mined over three months preceding the Bitcoin halving that took place on May 12th.
Indeed, a researcher going by the name of ‘parakite’ posted on Reddit that Greyscale added 60,762 BTC to its Bitcoin Trust fund between February 7th and May 17th, adding that “these coins are locked for 6 months,” implying that they won't be sold for at least half a year.

Tracy Chen