Cryptocurrencies – FinanceBrokerage
One of the largest investment houses in Israel invested $ 100 million in the Grayscale Bitcoin Trust (GBTC). It’s worth noting that Altshuler Shaham is a reputable organization with more than $ 50 billion in assets under management.
As a reminder, Altshuler Shaham made the investment in the Grayscale Bitcoin Trust in the second half of the year when Bitcoin was trading at around $ 21,000. Interestingly, the revelations come at a time when institutional investors are looking to invest in cryptocurrency either directly or on arm’s length terms through funds like Grayscale.
The history of the Grayscale Bitcoin Trust goes back to 2013. It is the world’s largest bitcoin fund. In fact, it offers investors the opportunity to get exposure to the world’s largest cryptocurrency. People should keep in mind that the Digital Currency Group (DCG) owns Grayscale.
According to the latest figures, Grayscale currently manages net worth of $ 42.1 billion.
Grayscale Bitcoin Trust and its parent company
It’s worth noting that the Digital Currency Group plans to acquire $ 250 million in shares in Grayscale Bitcoin Trust. According to the company, the plan is to make the purchase on the open market while funding it with cash.
As a reminder, Barry Silbert, CEO of DCG, is considered one of the most active investors in the blockchain sector. Interestingly, the Digital Currency Group supports over 175 blockchain companies in over 35 countries.
As mentioned above, DCG subsidiary Grayscale Investments manages over $ 42 billion.
People should keep in mind that the Bitcoin Trust remains the most popular investment vehicle of all Grayscale products. It’s very popular with institutional investors as it gives them a regulated option to get into the world’s largest cryptocurrency indirectly.
It is not surprising that one of the largest investment houses in Israel has invested millions of dollars in GBTC. As can be seen from the above information, Bitcoin Trust is popular with institutional investors.
Hopefully more and more investors want to invest in cryptocurrencies. This makes sense because cryptocurrencies have the potential to change the world. Authorities should team up with companies and experts to make cryptocurrencies more popular around the world. For example, pension funds in other countries should also pay more attention to cryptocurrencies. In this way, it becomes easier to produce Bitcoin and cryptocurrencies in general everyday life.
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