Bitcoin (BTC) markets have done well in recent days and dominance is nearing 60% again. The cryptocurrency’s percentage change versus USD during the last year is up 29% and during the last 90-days, BTC has gained over 16%.
With 449,900 BTC held, Grayscale’s Bitcoin Trust has 2.14% of the entire 21 million BTC supply. As far as coins in circulation, BTC just passed the milestone of 18,500,000 in circulation. This means GBTC’s purse represents 2.43% out of the BTC currently in circulation.
“To acquire 16,796 BTC, we traded continuously 74 hours, executing 88,617 trades ~0.19 BTC each [three] seconds,” Saylor said. “~$39,414 in BTC per minute, but at all times we were ready to purchase $30-50 million in a few seconds if we got lucky with a 1-2% downward spike,” Saylor added.
A number of BTC proponents also believe that companies like Microstrategy and Grayscale’s Bitcoin Trust snatching up vast amounts of BTC is bullish for investors. CEO of UK bitcoin exchange Coincorner, Danny Scott, tweeted on Sunday that BTC’s “foundations are getting stronger by the day.”
“62 days of Bitcoin ending above $10,000,” Scott tweeted. “Previous was 61 from 1st Dec 2017.”
What do you think about Grayscale scooping up 17,100 BTC in the last seven days? Let us know in the comments section below.
The post Grayscale Investments Scooped Up Over 17,000 BTC in the Last Seven Days appeared first on Bitcoin News.
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