Grayscale invested another $ 300 million in cryptocurrencies per day


Digital asset management company Grayscale Investments has acquired $ 300 million worth of cryptocurrencies in the last 24 hours. Grayscale CEO Barry Silbert tweeted this shortly after his company posted information about an update to its cryptoasset portfolio.

“In one day, we added $ 300 million worth of cryptocurrencies to our trusts,” Silbert said.

The additional investment increased the total dollar value of cryptoassets managed by Grayscale to $ 7.3 billion. Recall that earlier this week, the total value of cryptoassets managed by Grayscale trusts reached $ 6.5 billion for the first time, of which $ 5.4 billion was concentrated in the Grayscale Bitcoin Trust (GBTC).

In mid-October, Grayscale reported its results for the third quarter of 2020 – investments in Grayscale trusts totaled a record $ 1.05 billion.According to Bitcoin Treasuries, public companies, including Grayscale, own a total of 785,999 BTC worth $ 9.18 billion.

According to BitInfoCharts, the average BTC transaction amount in dollars has grown sixfold over the past three months, from $ 25,000 in July this year to $ 151,000 as of October 20. This also indicates the growth of the activity of large investors.

Grayscale’s decision could also have been influenced by PayPal’s announcement to add cryptocurrency support for US users. US PayPal users will now be able to buy, sell and store cryptocurrencies. It is planned to add these features for international customers in 2021.