Digital Currency Group (DCG), the parent company of Grayscale Investments, is weighing plans to increase its purchase of shares of Grayscale's Bitcoin Trust (GBTC) from $250 million up to $750 million. In a press release, the company said it had bought $193.5 million worth of shares of GBTC.
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However, DCG reminds its plans to purchase additional shares still might change. The company explained that the actual timing, amount and value of share purchases will depend entirely upon "a number of factors."
As iHodl earlier reported, Marlton LLC, an investment firm based in Chicago, which hodls trust shares of Grayscale Bitcoin Trust (GBTC), said the cryptocurrency fund had done little to increase shareholder value. In a letter sent to the board of Grayscale, James Elbaor, Managing Partner of Marlton, said that the firm was "frustrated" that the board might allow management to squander the company’s leading market share to the detriment of GBTC stockholders, whilst "simultaneously rewarding yourselves handsomely with a profligate, market-leading, 2% management fee."
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