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Grayscale Purchases 32,710 Bitcoin in 1 Week, 8,762 BTC in 24 Hrs

Quick take:

Grayscale has accumulated 32,710 BTC in 1 week and 8,762 Bitcoin in 24 hoursThe accumulation is happening alongside a Bitcoin correction to the lower $30k levelsGrayscale now owns 3% of the 21 million Bitcoin that will ever existThe idea of Bitcoin scarcity is growing with such purchases by big firms

The Wall Street firm of Grayscale Investments has accumulated 32,710 Bitcoin in one week. Of this amount, 8,762 Bitcoin was accumulated in the last 24 hours. This translates to purchases of Bitcoin worth $285 million in the last day and $1.063 Billion worth of BTC in the last week using Bitcoin’s current rate at $32,500. The accumulation by Grayscale has been captured by the team at Bybt.com and can be found in the following screenshot.

Grayscale Purchases 32,710 Bitcoin in 1 Week, 8,762 BTC in 24 Hrs 16

Grayscale Now Owns 3% of All the Bitcoin that Will Ever Exist

From the screenshot, it can be observed that the 30-day accumulation of Bitcoin by Grayscale amounts to 64,874 BTC. Furthermore, the Wall Street firm now holds 641,520 Bitcoin in its vaults. This amount is roughly 3% of the total 21 Million BTC that will ever be mined. This fact was first captured by the team at Documenting Bitcoin via the following tweet.

Grayscale now holds 3% of all #Bitcoin that will ever exist.

— Documenting Bitcoin

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