A Famous Cryptocurrency Fund Manager Now has 500k Bitcoin in Its Holding

A Famous Cryptocurrency Fund Manager Now has 500k Bitcoin in Its Holding

Just recently, one of the famous cryptocurrency fund managing firm known as Grayscale Investments has made an announcement. The Grayscale Investments has announced that it has hit yet another milestone throughout its journey in the crypto-industry.

The major crypto-investment firm has revealed that it has managed to accumulate a large sum of Bitcoin (BTC). At present, the firm has claimed that it has half a million Bitcoin (BTC) in its Bitcoin (BTC) trust.

The cryptocurrency investment firm shared this information in the announcement made on 16th of November, 2020. The firm revealed that the 500k Bitcoin (BTC) that they currently hold sum up to be around $8.35 Billion.

The staggering amount of $8.35 Billion Bitcoin (BTC) in holdings makes up for 2.69% of the total Bitcoin’s (BTC) global pool. Holding such an amount of Bitcoin (BTC) is really an achievement for any firm.

Following to their announcement of hitting a milestone, the Grayscale Bitcoin Trust has also revealed some more information. The firm announced that they initiated the process of collecting Bitcoin (BTC) at a really high and aggressive rate.

The firm announced that it started collecting Bitcoin (BTC) aggressively at the beginning of the current year 2020. Since the initiation of the plan, the firm increased its Bitcoin (BTC) capacity by 50%. The firm further boasted their achievement by claiming that they saw a 50% increase in their Bitcoin (BTC) capacity only in the past 6 months.

Although the firm has been around for more than 7 years, but it managed to accumulate around 250k Bitcoin (BTC) in just 6 months.

It was just last week when the firm reported that it saw its largest inflow of the Bitcoin (BTC) for any given week. The firm confirmed that it took in a whopping 15,907 Bitcoin (BTC) in just one go. The amount of the Bitcoin (BTC) acquired translates to around $215 million.

Grayscale investments firm has revealed that it is not just Bitcoin (BTC) that the firm has amassed in the recent months. The firm revealed that it has also ramped up on its Ethereum (ETH) holdings as well. The firm currently holds around $1.175 Billion worth of Ethereum (ETH). This amount equals to 2.24% of Ethereum’s (ETH) total market capitalization.

Jerry Dedmon

Author: Jerry Dedmon

Jerry Dedmon is a new writer on Cryptocoin Stock Exchange, his articles are cryptocurrency news, analysis and blockchain news based. We recommend tuning in for Jerry's daily posts as they are always a great and interesting read.

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