MILESTONE: Grayscale Buys 16, 244 Bitcoins – 18x Daily Bitcoin Mined – in a Single Day

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Grayscale, the largest institutional buyer in the Bitcoin space by far, has purchased a total of 16, 244 Bitcoins in a single day.

The latest purchase is 18 times more Bitcoin than miners add into the Bitcoin circulating supply in a day – a record even for Grayscale for a single day purchase.

The recent purchase now bring to, almost $23 billion, the total assets under the Grayscale Bitcon Trust management or 623, 801.4331 Bitcoins.

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SEE ALSO: 87% of Bitcoin Investments in 2020 Came from Institutional Investors, Dominated By Asset Managers, Latest Grayscale Report Reveals

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This latest move is quite significant and underscores just how huge institutional demand is.

Below is a breakdown of latest stats on Bitcoin:

  • Retail interest in Bitcoin is back and has surpassed the old peaks
  • Over the past 30 days, 63, 982 Bitcoins has left exchanges for cold/hot wallets
  • Over the past 30 days, Grayscale has added 60,157 BTC worth $2.23B
  • Bitcoin marketcap is now higher than many household financial services
  • Bitcoins held on exchange wallets have dropped dramatically
  • A growing number of institutional funds have expressed interest and positive sentiments in Bitcoin
  • The Bitcoin mining hashrate hits a new all-time high in January 2021
  • The number of Bitcoin addresses holdint at least 1, 000 Bitcoins hits an all-time high metric
  • Some exchanges have already ran out of Bitcoins to sell

If the current rate of Bitcoin purchases continues, institutional investments into Bitcoin will hit approximately 93% – a huge leap from 87% in just a month.

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About Grayscale Investments

Grayscale Investments is the world’s largest digital currency asset manager, with more than $20.2B in assets under management as of December 31, 2020. Through its family of 9 investment products,

Grayscale provides access and exposure to the digital currency asset class in the form of a traditional security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscale’s products operate within existing regulatory frameworks, creating secure and compliant exposure for investors.

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RECOMMENDED READING: [WATCH] Bringing Institutional Investors into the Crypto Space – A Chat with Binance CEO and MicroStrategy CEO

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