Michael Sonnenshein, managing director of Grayscale Investments, said in a tweet today that the Grayscale team has received more than $115 million in Bitcoin alone. The executive also pointed out that the payment was delivered to Grayscale within one day yesterday (November 12).
It wasn’t until last month that the cryptocurrency asset management company revealed that Grayscale Investments had raised $1.05 billion for its investment products , which was the largest inflow of funds in a single quarter in history.
But more importantly, the company’s Bitcoin Trust’s assets under management have been Grayscale’s fastest-growing investment product. Grayscale Bitcoin Trust’s average weekly investment is US$39.5 million. The trust’s inflow in the third quarter of 2020 was US$719.3 million, an increase of 1500%. So far, its assets under management have soared 147%.
Several recent corporate adopters of Bitcoin may have played a role in promoting the recent BTC bull market. PayPal recently announced that it will open online channels for customers to buy cryptocurrencies, and can also sell and hold non-mainstream cryptocurrencies such as BTC. At the same time, some large listed companies have also made large investments in Bitcoin.
A notable example is that Microstrategy’s current BTC holdings are close to 40,000. Given that the price of BTC has risen by more than $16,000, the number may soar.
In fact, an independent crypto researcher pointed out that MicroStrategy has made $100 million in bitcoins purchased in the past two months. He compared this finding with the $78 million that MicroStrategy received from its actual business operations in the past 3.5 years.
On the other hand, Square, a payment business led by Jack Dorsey, announced last month that it had purchased 4,709 bitcoins worth $50 million.
Barry Silbert, CEO of Grayscale Investments, said in a tweet posted on October 22 that Grayscale manages digital assets worth up to $7 billion.
In another tweet, Silbert also stated that under current management, Grayscale even owns 2% of all Ethereum’s circulation, which is staggering.
The original text comes from ambcrypto, compiled by Blockchain Knight, the English copyright belongs to the original author, please contact the compiler for Chinese reprint.
