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Grayscale Adds 17,100 BTC to its Bitcoin Holdings in One Week

Quick take:

In the last week, Grayscale Investments has accumulated an additional 17,100 BTCThis adds to its already impressive Bitcoin holdings that are currently valued at approximately $4.8 BillionSuch a large accumulation can only mean that Bitcoin’s long term trajectory is up

According to the team at Bybt.com, Grayscale investment has bought an additional 17,100 BTC in the last 7 days. This information was shared via the following tweet by the team at Unfolded with an accompanying chart providing the necessary data for a visual representation of the accumulation in the past week by Grayscale.

Grayscale buys additional 17100 $BTC

data @bybt_com pic.twitter.com/yGfIgAkLU4

— unfolded. (@cryptounfolded) September 27, 2020

The recent Bitcoin accumulation by Grayscale comes as no surprise as several investment firms have continued to increase their exposure to BTC. In mid-September, the Chairman and CEO of Microstrategy, Michael Saylor, took to Twitter to announce that the company had purchased a total of 38,250 Bitcoins at an aggregated price of $425 Million.

On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.

— Michael Saylor (@michael_saylor) September 15, 2020

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