Grayscale: $ 300 million investment in cryptocurrencies in one day

While investments in Bitcoin and Altcoins have long been described as a gimmick that is primarily operated by private individuals, the situation has fortunately turned for the better. More and more companies are recognizing the advantages of blockchain-based currencies and are investing part of their assets in cryptocurrencies. Investment manager Grayscale posted a record $ 300 million investment in just 24 hours.

Grayscale has more than $ 7 billion under management

Grayscale made a name for itself with the cryptocurrency investment manager. It is not for nothing that the company, founded in 2013, now manages assets worth USD 7,8 billion. And there seems to be no end to this amount. Because more and more companies want to invest part of their systems in digital assets. Grayscale Investments also serves as a contact point for advice, as well as a cryptocurrency administrator.

As the company announced in a tweet yesterday, Thursday, October 22, 2020, it posted a record investment of more than USD 300 million. In just one day.

If you compare the numbers with those from two weeks ago, the extreme increase is clearly visible. Because on October 15, 2020, the amount of assets under management was (Assets Under Management - AUM) at $ 6,3 billion. A $ 10 billion increase in less than XNUMX days. In July we reported that the AUM at Grayscale exceeded $ 4 billion had.

In addition to the rise in the Bitcoin rate to USD 13,000, one reason for this enormous growth is also the investments made by large companies in cryptocurrencies. In addition, none other than the payment service provider PayPal announced that it would enable the purchase of cryptocurrencies. Although this is only possible in the USA for the time being, an expansion to the rest of the world should only be a matter of time.

Grayscale not only offers a Bitcoin Trust, but a total of nine different crypto currencies:

Grayscale Investment: these 9 cryptocurrencies are bought by the investment company

 

CRYPTUM PUMP.
Photo credit: pixabay.com | CC0