{"id":6748,"date":"2020-06-26T17:42:24","date_gmt":"2020-06-26T17:42:24","guid":{"rendered":"https:\/\/bitcoin.ng\/?p=6748"},"modified":"2020-06-26T17:44:23","modified_gmt":"2020-06-26T17:44:23","slug":"investments-company-could-own-3-of-bitcoin-by-january","status":"publish","type":"post","link":"https:\/\/bitcoin.ng\/investments-company-could-own-3-of-bitcoin-by-january\/","title":{"rendered":"Investments Company Could Own 3.4% of All Bitcoin by January"},"content":{"rendered":"\n<p>Investments company, Grayscale Investments purchased 19,879 BTC over a seven-day period, increasing its assets under management to almost 400,000 BTC under management.\u00a0At this rate, the organization could own 3.4% of all Bitcoin by 2021.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Grayscale to Own More Bitcoin<\/strong><\/h2>\n\n\n\n<p>Currently, 18.415 out of 21 million BTC is in circulation. Since 11 May 2020, Grayscale has purchased 53,588 BTC in total since this date. This presents a purchasing rate of approximately 1,190 BTC per day. If it continues to purchase the cryptocurrency at this rate, it could own 3.4% of all Bitcoin supplied by January 2021.&nbsp;<\/p>\n\n\n\n<p>The founder of Grayscale, Barry Silbert stated in May that the fund would increase its purchases in the second quarter. The firm announced that as of June 25, it had $4.1 billion in assets under management. This presents a 100% increase in assets since May of 2019.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Unbelievable.<br><br>Grayscale added 19,879 BTC to their Bitcoin Trust since last week (53,588 BTC since the halving).<br><br>Bitcoin miners only produced 7,081 BTC since last week (39,544 BTC since halving).<br><br>That&#39;s almost 400,000 BTC under management for <a href=\"https:\/\/twitter.com\/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$GBTC<\/a> <a href=\"https:\/\/t.co\/aMtSGHZnz2\">pic.twitter.com\/aMtSGHZnz2<\/a><\/p>&mdash; Kevin Rooke (@kerooke) <a href=\"https:\/\/twitter.com\/kerooke\/status\/1276251991698792464?ref_src=twsrc%5Etfw\">June 25, 2020<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Crypto Investments on the Rise<\/strong><\/h2>\n\n\n\n<p>Grayscale is owned by Digital Currency Group which is a parent firm of CoinDesk. . Recently, Three Arrows Capital, a crypto fund management firm in Singapore acquired a significant proportion of Grayscale. A filing with the U.S. Securities and Exchange Commission (SEC) shows that the organization acquired 21,057,237 shares (6.37%) of the trust for an amount worth <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1588489\/000110465920072126\/tm2022330d1_sc13g.htm\">$192 million<\/a>.&nbsp;<\/p>\n\n\n\n<p>According to Su Zhu, the founder of Three Arrows Capital,&nbsp;<\/p>\n\n\n\n<p>\u201cGrayscale is one of the most professional and beneficial companies in the crypto ecosystem. We enjoy working with their team and are proud to be the first investor to file a Schedule 13D\/G with the SEC for over 5% ownership,\u201d&nbsp;<\/p>\n\n\n\n<p>Investment markets for cryptocurrencies continue to gain more depth as institutional investors seek new revenue streams. According to the CEO of Kingdom Trust, a generational shift could open up a <a href=\"https:\/\/bitcoin.ng\/a-28-trillion-crypto-retirement-market\/?preview_id=5819&amp;preview_nonce=70f310875e&amp;preview=true&amp;_thumbnail_id=5820\" target=\"_blank\" rel=\"noreferrer noopener\">$28 trillion retirement market<\/a> for Bitcoin. This is due in part to the fact that a significant proportion of the millions of people around the world who own Bitcoin are set to go into retirement, opening up a floodgate gate of Bitcoin investments.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investments company, Grayscale Investments purchased 19,879 BTC over a seven-day period, increasing its assets under management to almost 400,000 BTC under management.\u00a0At this rate, the organization could own 3.4% of all Bitcoin by 2021. Grayscale to Own More Bitcoin Currently, 18.415 out of 21 million BTC is in circulation. Since 11 May 2020, Grayscale has [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":6749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,4],"tags":[19,20,470],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Investments Company Could Own 3.4% of All Bitcoin by January - Bitcoin Nigeria - Trusted Bitcoin Resources and Information.<\/title>\n<meta name=\"description\" content=\"Investments company, Grayscale Investments added 19,879 BTC over a seven-day period. 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