And Grayscale keeps accumulating more Bitcoin with each passing day
Cryptocurrency asset management company Grayscale owns 150% of all Bitcoin mined by miners during January 2021.
This is an impressive amount: 41,430 BTCs, that is, a value of almost $ 2 billion at the current price of Bitcoin. Only in December 2020 Grayscale announced have bought another $ 13 billion.
This data was provided by the Twitter account called Coin98, which deals exactly with blockchain data analysis:
– Coin98 Analytics (@ Coin98Analytics) February 8, 2021
“@Grayscale Bitcoin Trust bought almost 1.5 times the total #BTC mined during January 2021.”
In addition, according to data from the Bybt analytics platform, in total, Grayscale currently owns 649.99 thousand Bitcoins, of which it bought 881 in the last 7 days only.
Grayscale, BTC and other cryptocurrencies
Grayscale also invested in other cryptocurrencies, such as Ethereum, having 3 million ETH, equivalent to US $ 5.4 billion. In addition, the fund also has Litecoin, Bitcoin Cash, Ethereum Classic, Zcash and even Stellar Lumens. It is important to note that Grayscale does not have any XRP tokens. Following news of the SEC filing involving the XRP being suspected of being a mistake, Grayscale removed the Trust dedicated to XRP.
In total, Grayscale has exceeded $ 30 billion in assets under management after just a few years since its founding. Of that total, 80% is in the Bitcoin Trust (more than $ 24.3 billion), while 16% is in the Ethereum Trust ($ 4.9 billion).
Clearly, this fund is not a direct investor, but a liability: in fact, Grayscale allows its customers to gain exposure to crypto assets without having to buy or hold them directly.
This means that Grayscale does not buy for itself, but on behalf of large funds or institutional investors, so it also acts as custodian of cryptocurrencies and does not make its customers worry about its security.
Finally, it is important to note that the 30 billion total managed capital corresponds to 2.6% of the total capitalization of all cryptocurrencies listed on the famous CoinMarketCap website.