Promoting Health and Wellness with an Entrepreneurial Spirit

Home Based Business

Crypto VC Giant Ramps Up Bitcoin Investment by 500000000

Crypto VC Giant Ramps Up Bitcoin Investment by $500,000,000

By Daily Hodl Staff • May 5, 2021 // BITCOIN

Crypto-focused venture capital giant Digital Currency Group (DCG) is snapping up another $500 million worth of Grayscale Bitcoin Trust (GBTC) shares.

DCG backs more than 175 blockchain-related companies in over 35 countries and is the parent company of Grayscale.

The move brings DCG’s total investment in Grayscale to $750 million.

DCG plans to use cash on hand for the purchase, and states that “The actual timing, amount and value of share purchases will depend entirely upon a number of factors, including the levels of cash available, price, and prevailing market conditions.”

The Grayscale Bitcoin Trust is the largest public holder of Bitcoin in the world, with 654,850 BTC sitting in their treasury.

The investment behemoth also has trusts for 12 other altcoins, including Ethereum (ETH), Litecoin (LTC), and Chainlink (LINK).

ecosystem for entrepreneurs
Markethive Advertisement

The original article written by Daily Hodl Staff and posted on DailyHodl.com.

Article reposted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Leave a Reply