{"id":623,"date":"2021-01-20T15:21:49","date_gmt":"2021-01-20T15:21:49","guid":{"rendered":"https:\/\/cryptonita.co\/?p=623"},"modified":"2021-01-20T19:13:19","modified_gmt":"2021-01-20T19:13:19","slug":"grayscale-bought-16244-bitcoin-600m-in-24h","status":"publish","type":"post","link":"https:\/\/cryptonita.co\/?p=623","title":{"rendered":"Grayscale bought 16,244 Bitcoin ($600M) in 24H"},"content":{"rendered":"
Earlier this week digital assets manager Grayscale purchased a massive amount of cryptocurrency in a single day. On Monday alone, they bought 16,244 Bitcoin<\/strong> for a total of roughly $600 million. <\/p> To put that into perspective, that equals 18 times the number of new Bitcoin mined daily. <\/p> This gives me some real <\/strong><\/em>Hungry Hungry Hippos vibes<\/strong><\/em>_<\/a><\/p> As an investor, you have two basic pathways towards adding assets (like stocks or cryptocurrencies) to your portfolio. You can:<\/p> Cryptocurrency mutual funds and ETFs do not currently exist. Until they do, Grayscale\u2019s Investment products such as Grayscale Bitcoin Trust<\/a> (OTC:GBTC<\/a>) are bridging the gap, allowing (accredited) investors to gain exposure to these assets without having to buy them directly.<\/p> This aggressive crypto purchasing activity suggests a high demand from its clients (institutional investors, largely), for exposure to cryptocurrencies. Grayscale assets under management grew 900% in 2020. <\/p> <\/p> <\/p> <\/p> <\/p>","protected":false},"excerpt":{"rendered":" Earlier this week digital assets manager Grayscale purchased a massive amount of cryptocurrency in a<\/p>\n","protected":false},"author":1,"featured_media":625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[37,36,38,39],"class_list":["post-623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-quick-take","tag-bitcoin","tag-grayscale","tag-institutional-investors","tag-whales"],"yoast_head":"\nWhy this matters_<\/h4>
Takeaways_<\/h4>