Grayscale Investments, one of cryptocurrency s leading investment fund management firm, has resumed buying Bitcoin According to data from Bybt, Grayscale has increased the assets under management (AUM) by more than $180 million USD (a whopping 17,100 Bitcoin) within the past week.
This takes the total cryptocurrency coins under management to 449,900, which counts for nearly $5 billion USD of Bitcoin at the time of writing. Looking at the data volume and total coin supply, this means that Grayscale has control over nearly 2.5% of Bitcoin. With a total supply of 21 million and just under 10% of those (2.5 million of Bitcoin) still to be mined, the investment firm still has a massive portion of all Bitcoin in circulation, even if the supply had all been generated.
MicroStrategy vs Grayscale in a “race” for Bitcoin
Grayscale isn’t the only firm on a Bitcoin buying spree. MicroStrategy, a business intelligence company, is also making a quick move towards the cryptocurrency, transferring over $400 million USD of its spare fiat capital in exchange for Bitcoin. Although at a far less degree to Grayscale, MicroStrategy has increased its Bitcoin holdings by 38,250 Bitcoin since August, when it made its first Bitcoin purchase. While this is still less than a tenth than Grayscale’s cryptocurrency assets, it was mentioned by Barry Silbert, CEO of Grayscale. In a tweet, whether in jest or not, Silbert commented that it seems as though a “buying race” is on between the firms:
What cryptocurrency assets do Grayscale have under management?
Grayscale continues to update their market holdings on Twitter. As of September 25th, the firm reported $5.8 billion USD assets under management. This figure is made up of cryptocurrency trusts including Ethereum, Bitcoin Cash, Ethereum Classic, Horizen, Litecoin, Stellar Lumens, Ripple’s XRP and ZCash.
