Quick take:
The popular Wall Street company of Grayscale investments has not slowed down on its mission to accumulate Bitcoin
. According to data shared by the team at Unfolded, the company has accumulated Bitcoin worth $270 million in the last 7 days alone. This information was shared via the following tweet and accompanying chart highlighting the accumulation of Bitcoin by Grayscale in the last week.With the recent accumulation of Bitcoin and other digital assets, Grayscale Investments now has a total of $13 Billion net assets under management. The team at Grayscale shared this milestone yesterday, December 14th, via Twitter. A screenshot of their update can be found below.
Grayscale’s assets under management hitting $13 Billion is very impressive and a 465% growth since the beginning of the year. In January, Grayscale’s assets under management stood at $2.3 Billion. With more institutional investors
turning to Bitcoin and other digital assets, chances are that Grayscale’s assets under management will exceed $20 Billion by mid-2021.From the screenshot, it can be observed that the share price of the Grayscale Bitcoin Trust is now at $22.26. This is an impressive 24% increment since the mid-November value of $17.96.
To note is that the share price of the Grayscale Bitcoin Trust opened Q4 at a value of $11. This means it has doubled in value in less than three months.
Such impressive growth in value is in tandem with the accumulation of Bitcoin by Grayscale. Furthermore, it points to additional growth by GBTC. With such impressive growth, the Grayscale Bitcoin Trust could offer a good alternative for investors who missed out on the Bitcoin train after the Coronavirus crash of mid-March. During the latter event, Bitcoin dropped to as low as $3,800.