Grayscale biggest buy and why it matters
Hi,
two days ago, Grayscale, announced that they've added another batch of crypto worth $1 billion in a single day. That surpasses the previous record of $1.2 billion in a week.
Buying so much BTC will keep getting it from the market, which will definitely make the price rise higher with probably a new ATH in the coming weeks. Draining liquidity shows that there is a thirst for crypto on the market and also it raises awareness.
02/04/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.Total AUM: $30.1 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC pic.twitter.com/EJusspgOnK
— Grayscale (@Grayscale) February 4, 2021
As we can see, they bought not only into BTC but also into other currencies, which might bring to an alt rally. They still registered some more trusts for different currencies, like Cardano (ADA), Polkadot, Monero, Aave and Cosmos. This could be the next on their buying list.
Grayscale, knows what it is doing, as they've been for almost 8 years on the market, more years than most of the ones activate in here. GBTC was the first publicly quoted securities solely invested in the price of bitcoin upon its launch in 2013, that says a lot on the trust it has.
The founder, Barry Silbert is a crypto maximalist. He managed to bring BTC on the stock market, making the bridge to the world outside the crypto-universe.
I know there is a lot of talk about us vs them, which is pointless imho, as we need to see how we can mass adopt crypto and this goes also for all people in the world. Switzerland is doing it, with an open discussion with the stakeholders and it is showing that it can function.
We need this also from the USA and the EU, as the biggest free markets in the world. This is our duty as normal plebs to spread the word and the knowledge. We need to show that crypto is not a speculation method or a get rich quick scheme, but a slow revolution of the monetary and wealth system, a financial revolution and maybe the most important one in the history of mankind, even more important than the invention of banks and money (yes, I find both good as they both played a major role in evolution and development since inception).
Now is the time of crypto and this is shown by Grayscale, which a lot of people I know, use it to keep their pension safe against the winds in the stock market.
I think we need more people like Barry Silbert that bring the value in and manage to sell it also to the old generation of investors.
I think by investing $1 billion in one day showed the awareness on the market and the need for alternatives. The financial revolution is ongoing, only thing is to see it and act faster before the big guys make their move.
2021 will be a very interesting year!
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https://twitter.com/Alex_van_Munich/status/1358143476928565258
You missed Tezos, its going on onto the Rothschild crypto front as well.
Yes, Tezos also, but this is only bringing mass adoption!
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Too bad so much BTC gets in the hands of funds and not individuals over the world.
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You can't change people's mindsets. We're consumers and spenders.
Well, most of us, I should say.
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The tendency these days seems to be towards spending much more than we have.
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Yes, I agree. It's sad that at the end of the day, some don't even have an emergency fund, let alone reserves to buy and stockpile assets.
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And this is the fault of the individuals that don't buy and sell, we can't blame the funds for this. People make their own decision by selling, as BTC was mostly an individual thing 6-7 years ago.
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