The price of Bitcoin was shot through the $19,400 on Tuesday afternoon. Existing parties such as Grayscale also continue to accumulate BTC, keeping the price stable above $19,000.
Market researcher Bybt’s analysis shows that the asset manager bought up Bitcoin for $270 million in one week.
Bitcoin and Grayscale
Grayscale is known in the market as an eager buyer of the cryptomint. They now have over 565,000 Bitcoin under management for their Bitcoin Trust.
This is an opportunity for institutional investors to hitch a ride on Bitcoin price movements. Without having to buy it themselves and keep the private keys in cold storage.
The New York-based company also sent a tweet out into the world with a final score. With impressive figures such as no less than 10.8 billion dollars worth of Bitcoin under management.
The next few days should show whether the price is above $19,400 and investors can look forward to a new all-time high.
What helps are the long-term investors who are holding on to their Bitcoin, also in the coming cycles. In concrete terms, this means not selling until 2028 (fifth half) or 2032 (sixth half).