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Bitcoin & Crypto

10 April 2021

Grayscale Adds $1 Billion in Bitcoin In Merely 24 Hours

Posted By: Albin 0 Comment u.today

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Yuri Molchan

Grayscale that offers its clients crypto exposure has purchased a large amount of crypto assets, worth $1 billion, and the acquisition took just one day

The top-tier Bitcoin purchaser, Barry Silbert-related Grayscale, has bought another billion USD worth of BTC and other blockchain-based currencies.

As of Friday, the company stores a total of $46.1 billion versus $45.1 billion it held a day earlier, according to its Twitter handle.

Earlier this week, U.Today reported that the company had purchased massive amounts of the currencies it had added to its holding recently – BAT, LINK, LPT, etc.

Grayscale has set up addition cryptocurrency trusts backed by these popular altcoins.

It has also bought large lumps of XLM, Litecoin and ETC.

The big news that came from Grayscale this week is that the company intends to turn its Bitcoin-backed trust into an ETF based on Bitcoin.