Grayscale buys third of all Bitcoin mined in 3 months

In its mission to stockpile major cryptocurrencies, reports are that Grayscale Investments has bought up to 33% of all newly minted bitcoin over the last three months. Grayscale became aggressive in its acquisitions after April, as Bitcoin’s third halving hype reached fever-pitch.

The investment fund has added 60,762 BTC to its Bitcoin Trust Fund between 7 February and 17 May, say reports. That’s the equivalent of 607 BTC acquired by Grayscale each day during the 100-day period.

About 34% of BTC added during the three months were bought in just 17 days amid a checkered spike in the price of BTC, targeting $10,000. As of 17 May, the Grayscale Bitcoin Trust Fund had a total of 343,954 BTC under management, up 21% from 283,192 BTC held 100 days earlier.

In value, the portfolio has soared to $3.37 billion from $2.77 billion, at prevailing market prices.

Grayscale operates ten cryptocurrency investment products focused on institutional investors.

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CULT is a collective for NFT lovers. We are passionate NFT hoarders, we love minting our own collections and we are always on the lookout for collaborations. Most of our work can be found on StakeCube Marketplace

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