Over the past week, Grayscale investment firm acquired 19,879 BTC ($183.3 million), bringing the total amount of bitcoins under management to almost 400,000 BTC ($3.69 billion). This was announced by well-known analyst Kevin Rooke.
Related: Grayscale predicts bitcoin gain after CBDC launch
Unbelievable.
— Kevin Rooke (@kerooke) June 25, 2020
Grayscale added 19,879 BTC to their Bitcoin Trust since last week (53,588 BTC since the halving).
Bitcoin miners only produced 7,081 BTC since last week (39,544 BTC since halving).
That's almost 400,000 BTC under management for $GBTC pic.twitter.com/aMtSGHZnz2
For the same period, miners mined only 7,081 BTC ($65.3 million), which is why Grayscale's investment pace outstripped emissions by 280%.
In total, since the halving on May 11, the company has acquired 53,588 BTC ($494.3 million), while the number of coins mined was 39,544 BTC ($364.8 million).
The analyst added that just yesterday, the Grayscale portfolio was replenished by about 10,000 BTC ($92.2 million). The head of the company Barry Silbert called this day a record in the history of the fund. The total volume of all cryptocurrencies under management exceeded $4.1 billion.
The average daily rate of purchase of bitcoins by the company amounted to 1190 BTC. If Grayscale retains it, by January 2021, its portfolio will contain 3.4% of the available cryptocurrency supply, and by the next halving of 2024 10%.