Grayscale Investments Doubles Investment in BTC
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May 28, 2020

Investment firm Grayscale Investments has doubled its investment in Bitcoin, resulting in Grayscale buying more BTCs than the miners have mined.

According to researcher Kevin Rooke, the company has bought 18,910 BTCs since the May 11 halving. During this period, miners have mined 12,337 BTCs. As a result, Grayscale Investments has purchased more Bitcoins than the miners have mined during that period.

Rook also said after the halving, Grayscale increased its average daily investment from 607.62 BTCs to 1,112.35 BTCs.

Grayscale Investments recently announced the number of assets under its management had reached an all-time high. Their total value has reached $3.8B, of which $3.3B are from the Grayscale Bitcoin Trust (GBTC). Grayscale CEO Barry Silbert said the second quarter would be even more positive for the company than the current one.

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