Grayscale Acquires $3.1 Billion Cryptocurrencies
Over the weekend, the Grayscale fund reserve was replenished with $3.1 billion in cryptocurrencies
The decision to invest is not surprising. Everyone knows that Grayscale is a major institutional investor. The fund stores thirteen cryptocurrencies, including the flagship digital currency - Bitcoin.
Prior to this investment, the fund's cryptocurrencies reserves amounted to the equivalent of $41 billion. Now this figure has increased to $44.1 billion.
The purchase of BTC spent $37.3 billion. Five trusts were launched under these cryptocurrencies.
Thus, despite recent market turmoil and news that the bullish Bitcoin cycle is over, Grayscale Investments continues to believe in the cryptocurrency. Probably because of this news, Bitcoin has grown in value over the last 24 hours.