GrayScale Buys $370 Million Bitcoin

grayscale wsj bitcoin ad jan 2021 768x359

In just three days GrayScale is nearing what in late December it was doing in a week, with almost 10,000 bitcoin bought since Wednesday, worth $370 million. They bought $80 million within hours of opening up. Then 2,620 bitcoin was added on Thursday, worth about $100 million. On Friday there was a jump, with GrayScale scooping up 5,130 bitcoin, worth $190 million. That’s almost one Guggenheim a week. Guggenheim Partners of course being the publicly traded rich families investors that announced in December they are to buy $500 million bitcoin. Whether they have yet is not clear, but demand for bitcoin seems to be accelerating at GrayScale with it starting off at around $100 million a week in November, $500 million weekly in December, and now not far off from $500 million in half a week. According to their latest report, $5.7 billion was invested in bitcoin through them last…

Read the original article here