Bitcoin (Image: AllanLau2000/Pixabay)

Grayscale Buys $240m in Bitcoin In Largest Capital Raise Week Ever

Grayscale, which runs the Grayscale Bitcoin Trust (GBTC), bought this week another 15,114 Bitcoin ($241 million). GBTC holds 481,711 Bitcoin, representing 62% of all Bitcoins in the ownership of publicly-traded companies.

In brief

  • Grayscale this week bought another 15,114 Bitcoin ($241 million), bringing the total number of Bitcoin the company owns to 506,000, or $8.1 billion. The company now manages a total of $10 billion worth of cryptocurrency.
  • Grayscale Bitcoin Trust (GBTC), which was created in 2013, is the company’s biggest trust. The total value of assets managed by Grayscale Bitcoin Trust (GBTC) now exceeds $8.2 billion.
  • GBTC holds 481,711 Bitcoin, which corresponds to 62% of the 814,359 Bitcoins in the ownership of publicly-traded companies.

Grayscale, a digital assets management company, this week bought another 15,114 Bitcoin ($241 million), bringing the total number of Bitcoin the company owns to 506,000, or $8.1 billion. The company now manages a total of $10 billion worth of cryptocurrency.

Bitcoin (Image: AllanLau2000/Pixabay)
Bitcoin (Image: AllanLau2000/Pixabay)

Grayscale is among the biggest purchasers of Bitcoin. Its total investments comprise 2.29% of Bitcoin’s entire market cap.

Michael Sonnehnshein, Managing Director of Grayscale, declared this week the largest capital raise week “EVER,” after the firm raised $262 million. He said that on Thursday the company “raked in over $115 million in Bitcoin alone.”

Read more: Decrypt