Grayscale’s Fund Manager Barry Silbert Stocks Up 4 Cryptocurrencies: ETC, ZEC, MANA and ZEN
Barry Silbert, the CEO of Grayscale Investments, is taking advantage of the current bear market to stock up his crypto portfolio. Silbert through a tweet has revealed that he’s buying more Ethereum Classic (ETC), Zcash (ZEC), Dcentraland (MANA) and Horizen (ZEN) tokens.
Grayscale Investments is a virtual asset firm owned by the Digital Currency Group. At the moment, the investment firm offers ETC, ZEC and MANA to its clients and Silbert is just taking advantage of the extremely low prices to build his portfolio.
The bear market has seen altcoins shave off upwards of 50% of their value and some of the crypto enthusiasts believe that it’s a perfect time to pile these coins. In the recent Bitcoin crash, Grayscale investments lost over $400 million in less than a week as most of the altcoins dropped drastically in price.
Silbert often tweets about ETC and ZEC where he continues to urge investors to buy more coins. However, some in the crypto community believe that ETC is almost finished while ZEC has gone through a 51% attack. There are those who have supported Silbert’s move and only time will tell whether he is doing a smart thing by buying these coins at discounted prices.