Grayscale Digital Asset Fund Gets Boost Over A Billion Dollars After Bitcoin Price Spike
Grayscale Digital Asset Fund Is Boosted To Over A Billion After Bitcoin’s Price Increased
Grayscale Investments, the largest crypto asset fund manager in the world, has recently seen its value jump together with the value of Bitcoin (BTC). Several companies were positively impacted by prices, but none of them was so much as one of the biggest Bitcoin token holders in the world.
As the company recently announced via Twitter, its holdings are currently being worth around $1.1 billion USD. The CEO of the company, Barry Silbert, has affirmed that the assets have seen a big growth as this small but important bull run that is happening now is having a really important impact in prices.
Around 95% of the company’s assets are in the Grayscale Bitcoin Trust, so it is obvious that the price of the asset will be the main cause of the swing upward. The fund already holds a significant value in Ethereum (ETH), Ethereum Classic (ETC) and cash.
Today, the prices of crypto are even higher than yesterday, when the announcement was made, so it probably means that the company has even more money now. It seems like 2019 will be a great year to be a Bitcoin investor once again.
As a result of the price increase and the subsequent increase in the value of the funds, the Grayscale Bitcoin Trust (GBTC) shares closed at the price of $5.74, a hefty increase from the earlier price of $4.71 USD. If the prices keep growing, tomorrow prices may be even higher.
It looks like the company may even be stronger now than it was before the crypto market crash. Even with the bear market last year (or precisely because of it, one could consider), the company is now focused on acquiring more and more Bitcoin. At the moment, Diar reports that over 1% of Bitcoin’s circulating supply may have already been bought by the company.
Is The Crypto Winter Finally Finished?
Only one question haunts the mind of all crypto investors right now: is the crypto winter finally over? While it is too early to tell for sure and we may only be having a great week amid a not so great month, there are signs that things could be, indeed, about to change for the better.
It looks like 2019 will be a major year for Greyscale and for the crypto market as well. We may not see the next bull and prices reaching to the stars this year, but there is a big chance that we may end up seeing the end of the crypto winter this year.