Giant Bitcoin and cryptocurrency management firm Grayscale states that corporate money is flowing into the largest cryptocurrency.
According to the latest data, there is an increase in demand for Grayscale Bitcoin Trust (GBTC), Grayscale's leading crypto investment product for Bitcoin.
The amount of funds allocated by institutional investors to Bitcoin has been revealed: $ 29.9 million
Using the latest data published by Grayscale, analyst Kevin Rooke monitors the weekly average investment in GBTC, which rose from $ 3.2 million in the first quarter of 2019 to $ 29.9 million in the first quarter of 2020.
Barry Silbert, founder and general manager of Grayscale, responded to Kevin Rooke's comments.Barry Silbert said that the demand for GBTC is now stronger and added: