Bitcoin News

Gary Scale buys 3 times the amount of bitcoin mined in a month

According to new data, Grayscale buys bitcoins every month, 3 times more than the amount extracted in the same intervals. The company currently manages about $ 20 billion in bitcoins.

To Report Digital Telegraph investment giant Coin Telegraph, an investment giant in digital currencies, has increased its assets under $ 20 billion and bought three times the amount of bitcoins mined in December.

According to data published by Coin 98 Analytics, Gary Skill bought bitcoins almost three times the amount added to the market in December 2020 (December and December).

Last month, Scale added 72,950 bitcoins (BTCs), or $ 2.132 billion, to its assets. Miners, meanwhile, generated only 28,112 bitcoins, accounting for only 38.5 percent of GrayScale purchases.

These figures confirm the increasing liquidity pressure in the bitcoin market, where all major investors swallow available assets, take them out of circulation, and transfer them to cold wallets for long-term storage.

This phenomenon was also seen in November 2020 (November and December), but in December 2020 (December and December) we clearly saw an increase in demand for Scale and other companies to invest in Bitcoin.

GrayScale buys 3 times the amount of bitcoin mined in one month
Comparison of Mined Bitcoins and Gray Shopping In December 2020 (December and January)

As New Year’s Eve approached midnight, Barry Silbert, CEO of Gary Skill, celebrated the company’s $ 20 billion in assets, up from $ 20 billion last year. Gary Skill was only $ 2 billion in management.

Grayscale buys 3 times the amount of bitcoin mined in one month
Assets report in GrayScale Digital Currency Investment Funds as of December 31 (December 11)

With $ 17.475 billion in bitcoin assets, Gary Skill is currently the largest corporate player in Bitcoin, surpassing other market investors. Newcomer MicroStrategy, while not investing, currently has 70,470 bitcoins ($ 2.06 billion).

Analysts predict that increasing corporate demand for newly extracted bitcoins will help shape a war of buying orders and price increases. In December 2020, bitcoin sellers faced serious buyer requests. At that time, the historical peak of the price of Bitcoin caused many investors to make a profit.

At the time of writing, Bitcoin was trading above $ 29,000 and peaked at $ 29,500 last night.


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