Home » Grayscale has added another 7,188 BTC

Grayscale has added another 7,188 BTC

by Hans Lipper
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Grayscale’s Bitcoin proclivity is highly evident in recent times. The firm has procured more than $241 billion worth of bitcoin in the past week by adding more than 15,114 Bitcoin to its reserve.

The company now owns around 506,000 Bitcoin in total, being the only company holding around 10 billion worth of digital assets.

Grayscale’s Adds 7188 BTC

The company added 15,114 bitcoin, of which it procured 7188 BTC till December 3rd. As per Michael Sonenshein, the Managing Director of Grayscale, the company saw its grates ever Capital raise; a week later, it raised more than $262 Million, out of which $115 was raised in BTC alone.

Grayscale is constantly expanding its reach in the cryptocurrency markets. Not just BTC but other cryptocurrencies are also under the firm’s radar. Most recently, the Grayscale Ethereum Trust split its Ethereum shares for 9-for-1 to make the shares affordable for the investors.


Grayscale runs several trusts which the company uses to procure cryptocurrencies and trade the trust shares publicly.

Grayscale’s Bitcoin trust, founded in 2013, is one of the largest Bitcoin trusts with the total value assets exceeding 9.8 billion. It is the first publicly quoted investment tool that provides investors an opportunity to get BTC exposure without being susceptible to underlying risks.

With BTC price rallying, the purchases are highly-priced, thus increasing the fees of the trust. Grayscale purchases around 7188 Bitcoin in a single day, showcasing that the company is highly inclined towards Bitcoin. With over 15,000 bitcoin added to its reserve, the total stakes of the company in bitcoin is much higher than any other holder. It is interesting to note that only 27,881 Bitcoin were mined last month, which is much lesser than the bitcoin purchased by Grayscale.

Grayscale Bitcoin trust has more than 481,700 Bitcoin, which is around 62% of the total bitcoin held by publicly traded companies.

Right now, Grayscale is the largest BTC custodian and largely focuses on providing bitcoin exposure to its clients. With a larger number of high net worth individual and institutional entities aligning their financial goals with Bitcoin, it is evident that Grayscale is flocking more bitcoin with a long term perspective.


The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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