Grayscale bought 170% more bitcoins in two weeks than it mined | Crypto NEO

Grayscale bought 170% more bitcoins in two weeks than it mined

Investment company Grayscale continues to buy bitcoins. Over 40,000 BTC were added to the Grayscale Bitcoin Trust (GBTC) in 16 days.

Thus, since January 13, the company has invested about $ 1.36 billion in the crypt. Rafael Schultze-Kraft, technical director of Glassnode, drew attention to this. He wrote that since the beginning of the year, miners have mined only 26,000 bitcoins. This means that Grayscale was buying up BTC in 2021 54% faster than it could have been mined. However, it should be noted that most of the bitcoins were purchased in the last 16 days, which means that in two weeks Grayscale acquired about 170% more bitcoins than it was mined in the same period.

If the pace of purchases does not slow down, then by the end of 2021 Grayscale will own 912,500 BTC, or approximately 5% of all bitcoins in circulation.