Grayscale buys 16,244 BTC in 24 hours: the single largest purchase in a day.
Digital asset manager Grayscale Investments has set the record for the single largest bitcoin purchase made in a day, with the firm buying 16,2444 BTC 24 hours.
With the recent retracement of bitcoin price, Grayscale Bitcoin Trust ( GBTC) utilized the opportunity to buy more bitcoin at a discounted price.
In a tweet from Bloqport, a cryptocurrency newsletter, 16,244 BTC worth $590M was purchased by Grayscale, which is equal to eighteen times of the daily bitcoin mined. It was previously reported that Grayscale added more than 4,700 BTC to its bitcoin trust on January 12 and 14. The total bitcoin’s Asset Under Management (AUM) is about $22.9 billion.
Grayscale Investments BTC holdings. Source: bybt.com
While the firm’s largest investment is in Bitcoin, it has invested a considerable amount of money into Ethereum, Litecoin and other altcoins.
Grayscale’s Ethereum Trust now has about $3.62 billion in its AUM, while the litecoin trust is worth $174.72 million.
Other investments include Bitcoin Cash ( $123.99 M), Ethereum Classic ( $93.27M), Zcash ( $22.16M), Zen ( $15.79M) and Stellar Lumens ( $8.28M).
Grayscale crypto assets. Source: Reddit.com
The $19.2 million XRP Trust was removed from the Grayscale crypto fund on December 31st due to the Securities and Exchange Commission ( SEC) lawsuit against the Ripple Labs Team.
Grayscale Investments is set to get more investors who would enable the firm to buy more cryptocurrencies with the growing interests in cryptocurrency.