Grayscale buys huge amounts of Bitcoin

By claudio831 | claudio83 | 19 Jan 2021


Bitcoin these days has stabilized between $ 35,000 and $ 37,000 and some are starting to find it boring too, accustomed to the accelerations of the last two months. The crypto digital asset with the highest capitalization on the market has really run a lot and like any good athlete it needs to rest before another race. But let's not be fooled by this pseudo-tranquility because those who do business are moving consistently, as Grayscale shows us.

On Monday, January 18 alone, Grayscale bought 16244 BTC, for a value of around 700 million dollars, among the most important purchases made by the company since it started buying the digital asset in 2020. The Assets Under Grayscale's Management (AUM) rises to $ 23 billion - a figure that increased 10-fold in 2020. In just one day, Grayscale bought 18 times more Bitcoin (BTC) than miners produced!

All this confirms that institutions are more into the crypto system than you can imagine and there is a lot of belief that other institutions are buying Bitcoin but without making a public announcement, probably to avoid further hikes that would be counterproductive. I am convinced that many large investors will declare that they have bought BTC when they have their wallets full, creating havoc in their markets in search of coins, which will now be increasingly scarce.

We could see exceptional values ​​in the next few years even for a single Satoshi, so I suggest not selling even those few fractions that are earned from faucets. On the other hand, the confirmation that the large centralized hands are accumulating fractions of a project that in the beginning was not designed for them. The people's currency is increasingly becoming the currency of large investors and government entrants.

My personal thought as a small investor is that it no longer makes sense to invest in BTC if you have a small capital, much better for example investing in targeted projects such as BitcoinCash, Hive, Leofinance and Cardano, projects that I personally follow, because they have a greater probability, taking into account the solidity of the projects, of being able to return 100% by the end of the year, rather than Bitcoin. Mine is not a financial suggestion but it is a reflection of a layman of the financial markets and a little connoisseur of the crypto world.

Furthermore, the underlying problem is the loss of decentralization, which is why Bitcoin is born, certainly not to be traded on financial markets such as Wall Street. It will therefore be necessary to find an alternative collective tool and the market offers many interesting solutions that in the coming months could really mean a revolution in the financial world and beyond.

The conclusions are up to you

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claudio831
claudio831

I love writing and there is nothing more rewarding


claudio83
claudio83

enthusiastic crypto, advocate of blockchain and free speech

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