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$4.6 Billion Under Management: Grayscale Purchased Over $100M Worth of Bitcoins Last Week

This week cryptocurrency proponents discussed the firm Grayscale Investments, as the firm purchased 9,702 bitcoins (over $110 million) in the past five days. The news follows Grayscale informing the U.S. Securities and Exchange Commission (SEC) that the Bitcoin Trust (GBTC) grew over $1.6 billion in 2020. Last Friday, Grayscale Investments filed a quarterly report with the SEC detailing that the firm’s Bitcoin Trust (GBTC) has increased significantly in value. The filing notes that the trust increased in value by over $1.1 billion as of June 30, 2020, from over 125,000 BTC to 387,000 BTC. June 30 exchange rates show the…

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Almost $100 Million In BTC Was Moved To Ethereum A Month Ago

Almost $100 million in Bitcoin was moved to Ethereum in July which was mostly led by retail traders. Ethereum remains the most popular off-chain destination for transferring bitcoins as its supply of tokenized BTC increased by 70% in July as we reported in our Ethereum news today. About $100 million in BTC was moved to Ethereum and there are now about $255 million tokenized and used in ETH-based protocols. Wrapped BTC represents 76% of the total tokenized bitcoin supply as it increased by more than $96 million in July. Tokenized bitcoins allow traders and investors to denominate the transactions in…

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