1 minute read
- The Grayscale bitcoin trust has around 450,000 bitcoins under management with this recent acquisition.
- In case you are wondering, this is worth around $4.7 billion.
That’s how many bitcoins Grayscale have recently acquired to increase its reserves to what would equate to $183 million worth of the leading cryptocurrency. The Grayscale bitcoin trust has around 450,000 bitcoins under management with this recent acquisition. In case you are wondering, this is worth around $4.7 billion.
And as that is a massive number, it means that the bitcoin trust now controls 2.5% of all bitcoins in circulation.
When it was launched in 2013, it probably didn’t predict that it would own such a massive sum of bitcoin and yet, here we are.
For those that don’t know, Grayscale investments provide institutional investors with an easy to use custodial solution.
Through the Grayscale bitcoin trust, investors and institutions with high net worth will be able to gain exposure to bitcoin without having to hold the asset itself.
With 21 million bitcoins existence, the predictions are saying that the last of the leading cryptocurrency will be minted in 2140. Even if the trust decided to stop investing in the asset, it would still control 2.5% of the overall supply by the time this time comes.
© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.