Bullish Grayscale buys 1112.35 bitcoin (BTC) a day since the halving

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Grayscale Bitcoin Trust

You’ve got whales and you’ve got Grayscale. Crypto fund manager Grayscale Investments has bought 18,910 bitcoins since the bitcoin halving on May 11th, while only 12,337 bitcoins have been mined since that day. Researcher Kevin Rooke examined the data and says that the treasury of Bitcoin Investment Trust has been enriched with 150% of new bitcoins since the halving.

It just gets more and more

Last week, Rooke estimated that Grayscale had purchased between 33% and 34% of the new offering in the first quarter of 2020, or 60,762 bitcoins in 100 days. During this period, 29.9 million dollar was weekly invested in Grayscale’s bitcoin fund. Barry Silbert, the founder of Grayscale couldn’t resist responding: ‘Wait till you see Q2.

So it looks like Grayscale buys twice as many bitcoins per day in the second quarter than in the first quarter. After the halving it comes out at 1,112.35 bitcoins per day, in the first quarter there were ‘only’ 607.62 bitcoins per day.

With Grayscale’s buying behavior, it comes as no surprise that they are bullish about bitcoin. As a large investment party they make a statement by distancing bitcoin from central bank digital currencies (CBDC).

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