A cryptocurrency giant from the venture capital market Digital Currency Group (DCG) is buying shares in Grayscale Bitcoin Trust (GBTC) for over 500 million dollars. Recall that DCG supports over 175 blockchain-related companies that operate in over 35 countries and is the parent company of Grayscale.
Digital Currency Group continues to invest
This move brings DCG’s total investment in Grayscale to a staggering $ 750 million.
DCG informed that he generally plans to use his financial resources to invest and states that“The actual date, amount and value of the share purchase will depend entirely on a number of factors, including the level of cash available, prices and prevailing market conditions.”
The Grayscale Bitcoin Trust is today the largest public Bitcoin holder in the world, with 654,850 BTC in their own wallet.
The investment giant also has mutual funds linked to 12 other altcoins, including Ethereum (ETH), Litecoin (LTC) and Chainlink (LINK).
Big players are still investing in cryptocurrencies
Recently, it is often heard on the market that large companies invest in cryptocurrencies. We recently reported that institutional investment managers bought Ethereum (ETH) for a whopping $ 30.2 million last week. According to data CoinShares, their total ownership is already a record 13.9 billion USD. You can read more about it here.
It can be concluded that we have a certain generational change in the market. For example, Charlie Munger, an associate of Warren Buffett, recently re-criticized BTC.
– I don’t like the currency which is so useful for kidnappers, extortionists and so on. Nor do I like to just donate a few extra billion dollars to someone who just came up with a new financial product out of thin air. I think I should say modestly that I think all this goddamn development is gross and contrary to the interests of civilization. And I will leave the criticism to others – He said.
Current Bitcoin rate and other cryptocurrencies, you can always check the tabs: exchange rate Bitcoin and the cryptocurrency rate on the website . A place where you can buy BTC and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will find out how you can efficiently create one: LINK.