Grayscale Investments has bought nearly half a billion worth of Bitcoin since the block award in May. The amount of BTC it received this week is three times higher than that of miners.

On June 25, crypto analyst Kevin Rooke tweeted, and according to this tweet, the investment company bought 19,879 Bitcoin (BTC) for the Bitcoin Trust last week, bringing the total amount of btc to nearly 400,000.

Rooke said that Grayscale not only bought large amounts of cryptocurrencies, but also received about 280 percent of newly produced Bitcoins. Twitter user Hodlonaut pointed out this:

“Only Grayscale bought 14,000 BTC in addition to all BTCs that have been produced since the split.”

Grayscale cornering the market

Currently there are 18,415 million BTC remaining. Grayscale has purchased a total of 53,588 BTC since May 11, which means an average of 1,190 BTC per day. If their daily purchases continue the same, they will have 6.4 percent of the world's BTC supply (625.069 BTC) by January 2021 and 10 percent of the transaction until the next half in 2024.

Grayscale Founder Barry Silbert said they will increase purchases in the second quarter. As of June 25, there are $ 4.1 billion in investment company management. The value of Grayscale was $ 2.1 billion in May 2019. So its value almost doubled.

The company also buys Ether

Grayscale’s Ethereum Fund (ETHE) accumulated $ 396 million ETH. The press also reported that as of June 5, Grayscale bought Ethereum (ETH) worth $ 110 million in 2020.

However, ETHE shares rose more than 800 percent with transactions testing $ 250 in early June, dropping to $ 100 after just a few days, dropping 50 percent.