Bitcoin long-term trajectory up? Grayscale increased its holdings by 17,100 BTC within a week

According to the Bybt.com team, Grayscale Investments has amassed another 17,100 BTC in the past 7 days, worth roughly $182 million.

According to previous news, as of September 25, the total asset management scale of Grayscale rebounded to US$5.8 billion.

Most bitcoin mining farms in Texas, USA have ceased operations due to winter storm: According to CoinDesk, local bitcoin mining farms have shut down as a massive winter storm drained the power grid in Texas, USA. Ethan Vera, co-founder of U.S. crypto mining company Luxor Tech, said most bitcoin mining farms have gone offline. [2021/2/17 17:22:51]

Grayscale’s recent accumulation is not surprising, as some investment firms have continued to increase their exposure to BTC. In mid-September, Microstrategy chairman and CEO Michael Saylor announced on Twitter that the company had purchased 38,250 bitcoins for a total of $425 million.

Willy Woo: Bitcoin is liquid enough to cope with the wave that is about to join: Encryption market analyst Willy Woo tweeted today that the real news is that Bitcoin is so liquid that it can swallow Square's $50 million acquisition trade without any significant impact on price. The same goes for MicroStrategy's $425 million acquisition. Bitcoin is already liquid enough to handle the tide that is about to join. [2020/10/9]

Block.One CEO BB (Brendan Blumer) also tweeted: "Since the halving, the Grayscale Bitcoin Trust (GBTC) alone has purchased 18,900 BTC, more than 50% more than the BTC mined at the same time .Rising institutional demand and global money printing are fueling Bitcoin in a way that I have never seen before.”

Germany may launch bitcoin futures: According to German business magazine Wirtschaftswoche, Deutsche Borse executives are "considering" launching bitcoin futures contracts, which would make Germany the first European country to launch cryptocurrency futures nation. [2017/12/15]

Indeed, some investment firms are bullish on bitcoin's long-term value. There are voices who believe that the huge accumulation can only mean that the long-term trajectory of Bitcoin has risen. Moreover, further evidence can be seen in the resilience of Bitcoin in the crypto market. The price has surpassed the psychological price of $10,000 for nearly two months.

It is worth mentioning that in the early hours of Monday, Glassnode data showed that the Realized Price of Bitcoin had reached $6,242.10, a record high. (Part of the information is synthesized from ethereumworldnews)

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