Investment company Grayscale Investments added another 16,244 BTC to its accounts. This Monday the company acquiredthe largest batch of bitcoins in one day.
According to ByBt, on January 18, Grayscale increased its holdings by 16,244 BTC, worth about $600 million. At the end of last year, the fund added 12,319 BTC ($285.5 million) to its storage.
In total, Grayscale already has 632.8 thousand BTC (about $22 billion).
In just one day, Grayscale bought 18 timesmore bitcoins than miners can produce in a day. On average, about 144 blocks are mined daily. Hence, BTC miners can only produce 900 BTC.
A massive ramp-up in institutional BTC buying is likely to create a shortage of the cryptocurrency. In the long term, this will lead to higher prices.
This trend is confirmed by data from Arcane Research, which shows a surge in the number of addresses containing at least 1,000 bitcoins.
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