Grayscale bought bitcoin for another $ 600 million

Digital asset manager Grayscale Investments has been ramping up since its reopeningtheir trusts for client investments in the pastweek. Data from analytics platform Skew shows that 16,000 bitcoins worth $ 600 million were added to Grayscale funds on January 18 at current exchange rates.

</p>

Investment size relative to the previous oneworking day has tripled. Grayscale CEO Michael Sonnenschein cited Friday as the largest fundraising day in Grayscale history with over $ 700 million across its product line. The charts imply that investments made with these capitals were reflected in the financial statements for Monday. In total, the Grayscale fund now has about 633,000 BTC worth $ 23.5 billion.

Although it is believed that over-the-counter purchasesGrayscale has not yet had time to be reflected in the BTC market rate on the largest crypto exchanges, investors should be careful in the near future, as funding rates in the futures market again reached extremely high values ​​between 0.15% and 0.2%. This suggests an oversupply of margin long positions and an increased likelihood of a sharp depreciation as a result of their liquidation.

</p>

Sonnenschein himself does not agree with the words of the CEONYDIG company that institutional investors in the cryptocurrency market are only interested in Bitcoin. According to him, they are also diversifying their portfolios with altcoins, including with the help of Bitcoin Cash and Ethereum. In support of these words, he cited statistics reflecting an increase in the share of the circulating volume of some cryptocurrencies concentrated in Grayscale trusts.

</p>

“I cannot say that we see the same inGrayscale. Of course, most investors are trying cryptocurrencies through bitcoin for the first time, but we see more and more desire for diversification within the asset class on the part of institutions "- he wrote.

JPMorgan analysts previously said that for Bitcoin to continue rising above $40,000, Grayscale must raise at least $100 million per day from clients.

Rating of TOP-5 cryptocurrency exchanges

For the safe and convenient purchase of cryptocurrencies, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support the deposit and withdrawal of funds in rubles, hryvnias, dollars and euros.

The most reliable sites with the highest turnoverfunds, for several years the largest cryptocurrency exchange in the world has been Binance. The Binance platform is the most popular crypto-exchange in the CIS as well, since it has the maximum trading volumes and supports transfers in rubles from Visa / MasterCard bank cards and payment systems QIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

#	Cryptocurrency exchange	Official site	Site evaluation
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.5
3	Exmo	https://exmo.me	6.9
4	Yobit	https://yobit.net	6.3
5	OKEx	https://okex.com	6.1

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability&#8212; stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features &#8212; futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

</p>

Rate this publication