Grayscale Purchased $240M In Bitcoin In Biggest Capital Raise Ever

Grayscale purchased $240 million in Bitcoin in their biggest capital raise week ever and now the Grayscale Bitcoin Trust holds 481,711 BTC which represents 62% of all BTC in the ownership of the publicly-traded companies so let’s find out more in today’s Bitcoin news.

Grayscale purchased another 15,114 Bitcoin which brings the total number of BTC that the company owns to 506,000 or $8.1 billion. The company now manages a total of $10 billion worth of crypto. Grayscale Bitcoin Trust which was initially created in 2013 is the company’s biggest trust. The total value of assets managed by GBTC now surpassed $8.1 billion. GBTC now holds 481,711 BTC which corresponds to 62% of the 814,359 BTC in the ownership of publicly-traded companies.

11/13/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.

Total AUM: $9.8 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/yiS4Nmv105

— Grayscale (@Grayscale) November 13, 2020

Grayscale which is a digital asset management company has bought another 15,114 BTC or $241 million worth of BTC bringing the total number of Bitcoin in the company to 506,000 or $8.1 billion. Now, the company manages a total of $10 billion worth of crypto. Graysacle is among the biggest buyers of Bitcoin and has a total investment of 2.29% of Bitcoin’s entire market cap. Michael Sonnenshein who is the managing director of Grayscale, declared this week as the largest capital raise week “EVER” after the company raised $262 million. He said that the company raked in over $115 million in BTC alone.

The company runs multiple trusts, pools of private investors’ money which the company uses to buy up crypto. The shares in the trust trade publically with the prices tracking the price of the cryptocurrencies. Bitcoin trust is the biggest and the fees of the trusts are high so the shares usually reflect an over-priced purchase of Bitcoin but they make sense for people that want to trade crypto on the stock market but for others is a way of getting exposure to crypto from tax-efficient accounts.

Grayscale BTC Trust which was created back in 2013, is the company’s biggest trust. The total value of assets managed by Grayscale BTC trust now surpassed $8.2 billion. The trust holds 481,711 bitcoin which corresponds to 62% of the 814,359 Bitcoins in the ownership of publicly-traded companies according to the data from Bitcointreasuries.org. the price of one BTC is $15,911 as of the time of writing, having decreased by 1.54% in the past 24hours.