RATE Group | Grayscale Buys 33% of All Bitcoin Mined in Last Three Months
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Grayscale Buys 33% of All Bitcoin Mined in Last Three Months

19 May Grayscale Buys 33% of All Bitcoin Mined in Last Three Months

Posted at 20:06h in Bitcoin News by

Grayscale Investments bought up to 33% of all newly minted bitcoin over the last three months, as the asset manager continues to stockpile major cryptocurrencies.

The investment fund added 60,762 BTC to its Bitcoin Trust Fund between February 7 and May 17, a researcher posted on Reddit. That’s the equivalent of 607 BTC acquired by Grayscale each day during the 100-day period. Grayscale became aggressive in its acquisitions after April, as Bitcoin’s third halving hype reached fever-pitch.

About 34% of BTC added during the three months were bought in just 17 days amid a checkered spike in the price of BTC, targeting $10,000. As of May 17, the Grayscale Bitcoin Trust Fund had a total of 343,954 BTC under management, up 21% from 283,192 BTC held 100 days earlier.

In value terms, the portfolio has soared to $3.37 billion from $2.77 billion, at prevailing market prices.

The Redditor commented:

For good measure, 60k bitcoins in last 100 days is about 33-34% of all newly minted bitcoins in…

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