Bitcoin has started the day with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $56,175.78 (-4.51%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has increased to $3,357 (+7.16%), while Binance Coin has risen by 3.91% and is now trading at $659.70.
Digital Currency Group (DCG), the founder of Grayscale Investments, the world's largest cryptocurrency asset manager, has announced it has authorized the purchase of up to $750 million in shares of the Grayscale Bitcoin Trust (GBTC). The company had previously intended to invest up to $250 million in the trust. Digital Currency Group said:
"DCG intends to use its existing traditional foreign exchange reserves to fund this purchase and will conduct it in the open market in accordance with management's decision and securities law requirements."
Historically, GBTC shares have traded above their respective share of Bitcoin, however, the overpayment became a discount in February. Currently, GBTC shares are trading 10% below the crypto's price.
According to CoinMarketCap’s ranking, 5 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,266,546,755,997.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.