Grayscale Investments collected an additional 17,100 Bitcoins to its wealth within a week, which is a considerable number keeping the market watchers stumbled. The Bitcoin holdings of the company have grown up substantially recently, making it close to 4.8 Billion. Bitcoin’s high stakes in such a massive number forecast bright prospects for the cryptocurrency behemoth in the coming times.
Bybt.com team reported that Grayscale investment procured 17.100 additional cryptos from Bitcoin in the last seven days. The company broke this news via a series of tweets and a chart showcasing all the required data deciphering the increase in Bitcoin accumulation by Grayscale.
The 17.100 Bitcoins procured by the company are shown as there is a steep rise in the Bitcoin positions since 20th September. The official Grayscale website now cites that the Copan’s Bitcoin trust now rose to 4.8 Billion USD. Grayscale’s recent affinity towards Bitcoin is not something that shocks the market watchers as many investment companies are adopting BTC in full enthusiasm these days.
Grayscale buys additional 17100 $BTC
data @bybt_com pic.twitter.com/yGfIgAkLU4
— Unfolded (@cryptounfolded) September 27, 2020
Future Looks Bright For Bitcoin
As BTC’s accumulation goes up from the various investment firms, first MicroStrategy, and now BTC, it is easy to estimate that the companies are vouching for long-term value for the Bitcoin. Bitcoin has successfully reigned the cryptocurrency markets, and its recent 10K above streak has further strengthened the faith of crypto firms in the behemoth.
Maintaining The High Value Is Tough
However, the crypto bellwether company has few challenges to take on shortly, which includes maintaining the monthly and weekly close. As the third quarter of 2020 comes to an end, Bitcoin has to keep both the weekly and monthly close above 10,000 USD, which may be a little high goal. However, the experts have warned that there is instability in the stock markets, which may negatively impact the BTC price; thus, it is essential to check Nasdaq’s sudden changes before trading the BITCOIN.
