TL;DR Breakdown
- Grayscale Bitcoin Trust announced that it now owns more than 500,000 BTC.
- With BTC price above the $17,000 mark, Grayscale now holds over $8.5 billion worth of BTC.
- This figure represents around 2.4 percent of the 21 million BTC supply limit programmed by Satoshi.
Grayscale Bitcoin trust recently reached another milestone as the trust reported that it now owns more than 500,000 Bitcoins (BTC). As the BTC price surpasses the $17,000 level, the sum Grayscale holds is now worth more than $8,5 billion. Grayscale also retains the top spot among crypto fund management firms. The sum held by the trust represents over 2.38 percent of the total Bitcoin circulation.
Grayscale Bitcoin Trust crosses yet another milestone.
Grayscale Bitcoin Trust’s Twitter handle recently announced that the company has achieved another huge milestone. The account revealed that the trust now holds more than 500,000 BTC. The Twitter account also uploaded the updated information regarding the company’s net assets under management, holdings per share, and other details for their investment products.
As shown in the firm’s balance sheet, the total assets under management (AUM) held by Grayscale Investments is around $9.9 billion. This figure includes the nearly $1.2 billion worth of Ethereum the firm holds.
However, the company’s holdings are concentrated in its BTC investments, which represent over 84 percent of the firm’s total AUM. This is a direct result of the accumulation campaign followed by Grayscale since January 2020 when the Bitcoin trust was first registered with the SEC. Just ten days ago, the company had revealed a total AUM of $9.1 billion.
Bitcoin price reaches $17,000, what’s next?
As the Bitcoin fever grows, the price action continues its bullish trend despite technical indicators flashing red on the hourly charts. According to our price analysis, whales and institutional investors are fueling the recent bull rally as the price nears its all-time high of 2018. You can read the detailed price analysis here.
