{"id":157778,"date":"2021-01-19T12:00:00","date_gmt":"2021-01-19T09:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/pay-attention-grayscale-adds-18x-the-bitcoin-mined-supply-in-one-day\/"},"modified":"2021-01-19T12:00:00","modified_gmt":"2021-01-19T09:00:00","slug":"pay-attention-grayscale-adds-18x-the-bitcoin-mined-supply-in-one-day","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/pay-attention-grayscale-adds-18x-the-bitcoin-mined-supply-in-one-day\/","title":{"rendered":"# &#8216;Pay attention&#8217; \u2014 Grayscale adds 18x the Bitcoin mined supply in one day"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b730b9525f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b730b9525f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/pay-attention-grayscale-adds-18x-the-bitcoin-mined-supply-in-one-day\/#BTC_buys_accelerate_again\" >BTC buys accelerate again<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/pay-attention-grayscale-adds-18x-the-bitcoin-mined-supply-in-one-day\/#Unashamedly_bullish_on_Bitcoin\" >Unashamedly bullish on Bitcoin<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># &#8216;Pay attention&#8217; \u2014 Grayscale adds 18x the Bitcoin mined supply in one day  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Asset manager Grayscale added 18 times more Bitcoin (BTC) than miners added to the supply in just one day on Jan. 18.<\/p>\n<p>As various data sources confirm, Grayscale, which remains the biggest institutional buyer in the Bitcoin space, purchased a total of 16,244 BTC ($607 million) on Monday.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"BTC_buys_accelerate_again\"><\/span>BTC buys accelerate again<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The giant sums are some of the biggest on record and are an order of magnitude above what even Grayscale was attempting just last week. The company previously saw daily buys but stopped over the holiday period and reduced its allocations in the first week of the new year.<\/p>\n<p>Monday\u2019s activities bring its total assets under management (AUM) to almost $23 billion. As Cointelegraph reported, the total increased tenfold during 2020. <\/p>\n<p>\u201cGrayscale were buying $251 M of #Bitcoin on avg per week in Q4 2020,\u201d Danny Scott, CEO of United Kingdom-based cryptocurrency exchange CoinCorner, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/coincornerdanny\/status\/1351297692203364355\">tweeted<\/a>. <\/p>\n<blockquote><p>\u201cLast week they did $700 M in 1 day&#8230; And today $590 M&#8230; Pay attention.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/d8070d82-4120-49ab-ac24-a339d148d45d.jpg\"><figcaption style=\"text-align: center;\"><em>Grayscale daily Bitcoin additions chart. Source: GBTC Bitcoin Tracker\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Unashamedly_bullish_on_Bitcoin\"><\/span>Unashamedly bullish on Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The move underscores both Grayscale\u2019s continued faith in Bitcoin as a long-term play and that of institutions choosing Bitcoin over any other form of macro asset.<\/p>\n<p>Despite mixed messages from fellow asset manager Guggenheim, set to begin its BTC exposure this month, industry sources state that public announcements hide the true extent of institutional involvement.<\/p>\n<p>\u201cThere is huge institutional demand and most of it is silent,\u201d Gemini exchange co-founder Tyler Winklevoss <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/tyler\/status\/1348754904320499717\">said<\/a> last week while berating gold bug Peter Schiff for claiming that players were actually not interested in Bitcoin.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/ad85e4f4-ede2-4083-aa2c-66fefe6beebc.jpg\"><figcaption style=\"text-align: center;\"><em>Grayscale Bitcoin holdings vs. BTC\/USD chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>Data from on-chain analytics resource CryptoQuant meanwhile reveals changes in Grayscale\u2019s buying habits, with late 2020 seeing the largest short-term increase in BTC holdings for the year.<\/p>\n<p>Earlier, analysts at JPMorgan argued that inflows into the Grayscale Bitcoin Trust would need to maintain $100 million per day in order for Bitcoin to have a chance at reclaiming $40,000 price levels.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/pay-attention-grayscale-adds-18x-the-bitcoin-mined-supply-in-one-day\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# &#8216;Pay attention&#8217; \u2014 Grayscale adds 18x the Bitcoin mined supply in one day &#8221; Asset manager Grayscale added 18 times more Bitcoin (BTC) than miners added to the supply in just one day on Jan. 18. As various data sources confirm, Grayscale, which remains the biggest institutional buyer in the Bitcoin space, purchased a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":157779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvNjUxN2U5ZGYtYWRkMi00MmQ5LWIwM2YtNzA0NTk1MzM2ZmUwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,80178,74937,76550,73711,73785],"class_list":["post-157778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-investment-trust","tag-bitcoin-price","tag-grayscale","tag-investments","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/157778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=157778"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/157778\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/157779"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=157778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=157778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=157778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}