September 29

Companies are investing more and more in bitcoin, Greyscale outperforms MicroStrategy

Grayscale Investments, one of the largest investment funds in crypt currencies, has started buying bitcoins again. According to data from Bybt, Grayscale’s assets under management have increased by more than USD 180 million (as much as 17,100 bitcoin) in the past week.

2.5% of all bitcoins

The graph below comes from Bybt and can also be viewed live here.

This brings the total number of Bitcoin Aussie System under management to 449,900, which at the time of writing accounts for almost $5 billion (€4.28 billion) of bitcoin. If you look at how this compares to all the bitcoins that have been mined so far, you will see that Grayscale manages 2.5% of the total available stock.

There are now 18.5 million bitcoins mined, of which an estimated 2 million have been ‚lost‘. A maximum of 2.5 million more bitcoins will be added in the next 120 years, so if you already have 2.5% of all current bitcoins, you will be fine for the time being.

MicroStrategy versus Grayscale

Grayscale is not the only company to make the news with their shiny new bitcoins. MicroStrategy, a business intelligence company, also invests a lot of money in cryptocurrency. They do this for other reasons than Grayscale. The latter invests and manages money from others in a fund and uses that fund to buy bitcoins.

MicroStrategy uses their own dollar reserves to buy bitcoins in order to retain value. So far, they have used more than USD 400 million of their reserves to buy BTC. Yet this is not even a tenth of what Grayscale owns. They now own 38,250 bitcoins.

Barry Silbert, the CEO of Grayscale tweeted (whether or not for fun) that the two companies are competing.

Which cryptocurrencies does Grayscale manage?

Grayscale is transparent about their portfolio, as can be seen in the tweet below. Yesterday, the company shared that they have $5.8 billion of assets under management. This sum of money is made up of more than just bitcoin, including Ethereum, Bitcoin Cash, Ethereum Classic, Horizen, Litecoin, Stellar Lumens, Ripple’s XRP and ZCash. View all these cryptocurrency rates.

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Veröffentlicht29. September 2020 von admin in Kategorie "Bitcoin