Bitcoin price rises sharply and can record price gains. The picture shows a price curve as well as stacked bitcoins.
Barry Silbert’s Grayscale gained $ 2.5 billion in just three days. Now the company manages $ 15.5 billion in bitcoin and crypto for its investors.
Grayscale’s Bitcoin inventory explodes
A few hours ago, Grayscale tweeted that its crypto holdings had grown by a staggering $ 2.5 billion in the past three days. Just 3 days ago it was around $ 13 billion.
The company holds its investors‘ assets in nine cryptocurrencies, including Bitcoin, XRP, Ethereum, Litecoin, and others.
Bitcoin holds the leading position on this list of crypto assets. The company currently holds approximately $ 13.075 billion in Bitcoin and $ 1.896 billion in Ethereum of the $ 15.5 billion.
Grayscale’s parent company founder Barry Silbert explained that it had taken the company five months to raise $ 5.4 billion in cash inflows from customers.
Now, $ 2.5 billion was made in just three days.
Grayscale’s 1: 9 share split
In early December, the company announced an upcoming ETHE stock split for those who would become its investors by December 14th. The event was announced for December 18th.
The stock split implied that each investor would receive an additional eight ETHE shares for owning 1 ETHE. This seemed more of a marketing ploy, however, as the total value of the stocks would stay the same and one stock would simply be split into eight.
Before the share split, one ETHE share was worth around 0.09 ETH. After the split, the price of a share would be around 0.01 ETH.
Business at Grayscale is booming. More and more institutional investors want to invest in Bitcoin and Co. In the last 3 days alone, 2.5 billion USD have been invested in BTC and Co. via Grayscale.
Hedging in Bitcoin against rising inflation is becoming increasingly popular. The big players are slowly realizing the great potential behind digital gold.
We are curious to see how the next weeks and months will develop and we will keep you updated as always.