Macro Investor Sees Bitcoin Supply Deficit as Grayscale Boosts Stockpiling

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Bitcoin (BTC) traders and investors may face a supply deficit as major firms increase their stockpiling of the cryptocurrency, according to Dan Tapeiro of New York-based global macro fund DTAP Capital. “SHORTAGES of Bitcoin [is] possible,” the founder tweeted on Thursday. “Barry Silbert’s Grayscale Investments Trust is eating up BTC like there is no tomorrow. If 77 percent of all newly mined turns into 110 percent, then it’s lights out.” The statement came after Grayscale released its third-quarter financial report. The New York firm stated that it had amassed about $1.05 billion worth of cryptocurrencies for its investment products. Its benchmark public share, the Grayscale Bitcoin Trust (GBTC), has received the top portion of the said massive inflow – of about $720 million. Meanwhile, a yearly outlook of Grayscale’s financial reports shows that it is raising its Bitcoin purchases against its mining supply rate every quarter. For instance, in the…

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