RATE Group | One investment fund now hodls over 1% of All The Bitcoin
51594
wp-singular,post-template-default,single,single-post,postid-51594,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

One investment fund now hodls over 1% of All The Bitcoin

05 Dec One investment fund now hodls over 1% of All The Bitcoin

Posted at 12:38h in Bitcoin News by

[ad_1]

Since Satoshi first turned on the Bitcoin network, around 17.5m coins have been mined. As of this week, just one company – which you may have never heard of – owns over 200,000 of them. Wanna say hello? 

While we have covered the fact that many of bitcoins now in circulation are contained in relatively few wallets, with more than half of the total in circulation tucked away in wallets worth at least $1m, it’s not always possible to put names to those addresses.

However, research by Diar appears to show that one large player in the Bitcoin markets – the Grayscale Investment Trust – has used the decline in the price of BTC during 2018 to stuff its wallets, even as the monetary value of its total holdings has plummeted.

With the price of BTC dropping down from nigh-on $20,000 around the turn of the year to less than $4,000 right now, the Grayscale Bitcoin Investment Trust’s dollar worth has dropped from close to $2.5bn in January to around the $825m mark at the…

[ad_2]

Source link