It is estimated that Grayscale Investments, a cryptomoney investment fund manager and subsidiary of Barry Silbert’s Digital Coin Group, has bought up to a third of all recently mined Bitcoins during the last three months in the midst of the pre-halve period.
The announcement comes as Grayscale’s average weekly investment in Bitcoin Investment Trust, or BIT, reached $29.9 million during Q1 2020.
In response to a tweet advertising the figures, Grayscale founder Barry Silbert said, „Just wait until you see Q2.
The average weekly investment in the trust has increased by more than 800% compared to $3.2 million in Q1 2019.
Grayscale Investments absorbs 34% of new BTCs
On May 19, „parakite“ on filed for a related patent, selling unlicensed securities, institutional trading instruments, the next day, halt services to cryptocurrency businesses, a halt to its development, was submitted to, the collapse of the dao, would not do so, create a parody site published estimates that Grayscale has spent the last three months accumulating up to a third of all newly mined Bitcoin (BTC).
The purchases added 60,762 BTCs to its Bitcoin Relief Fund, equivalent to a rate of 607 Bitcoins over 100 days.
As of May 17, the fund was believed to have 343,954 BTCs in total, a 21% increase in three months.
BIT assets under management increased by 80% in one year to USD 3.8
On May 19, Grayscale announced that the value of its assets under management had reached USD 3.8 billion, compared to USD 2.1 billion as of May 2019.
The data also revealed that the company’s Ethereum Trust has become Grayscale’s second largest, representing nearly $290 million.