The New York-headquartered institutional crypto Investment company, Grayscale Investments, has again raised its Bitcoin position. The company has purchased a significant amount of Bitcoins over the past week, boosting its Bitcoin position to nearly 450,000 BTC. With the recent Bitcoin purchase, Grayscale revest on its position as one of the biggest companies accumulating or holding a large percentage of the cryptocurrency.
Grayscale Investments bought an additionally 17,100 BTC
To start with, Grayscale Investments is an institutional-grade and trusted authority on digital currency investing, including crypto asset management. Notably, the company holds an impressive amount of the cryptocurrency given its recent massive purchases. In addition, data from Bybt shows that the company has made another significant purchase in the past week.
According to the data, Grayscale Investments garnered a total of 17,100 BTC starting from September 21. Following the price of the cryptocurrency at that time (around $10.64K), the recent purchase totals $182 million. Overall, the company has a total of 449,900 BTC in its Bitcoin position, as shown by Bybt. Furthermore, GBTC now boasts of $4.7 billion assets under management (AUM).
Institutional call
The massive Bitcoin purchase from the crypto-assets investment company probably indicates the liveliness of institutional crypto investors. With a Bitcoin position of 449,900 BTC, Grayscale Investments is currently holding about 2.14 percent of the entire Bitcoin supply, which is meant to cap at 21 million. Also, the total Bitcoin position represents over 2.43 percent of Bitcoin’s current supply in circulation, which is at 18,500,000.
Many people believe that these massive BTC purchases are quite bullish for investors. Aside from Grayscale Investments, a non-crypto related company, MicroStrategy made headlines in the cryptocurrency industry amid a significant number of Bitcoins it purchased as a primary reserve asset. The business intelligence company recently bought 16,796 BTC at an aggregate amount of $175 million.
In addition to the previous purchase, MicroStrategy has a total of 38,250 Bitcoins in its crypto reserve, at the price of $425 million.
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