The Grayscale Investments resumed stock offering of Grayscale Bitcoin Trust (GBTC). The assets trading of the GBTC is held privately and offered periodically to accredited investors.
The GBTC’s activities are designed to allow investors to put money in bitcoins through a traditional investments structure. The stocks are directly correlated to the bitcoin, but are “traditional” papers on behalf of the investor.
According to the information disclosed by the company, a GBTC share currently represents 0.00097876 bitcoin. The GBTC held US$ 2.66 billion in assets under management when this news was released. The result shows a considerable increase obtained in a few months.
Grayscale Investments has US$ 1,97 billion in its Bitcoin Trust
In order to get a better view of the business scale, in May, the Grayscale reported that considering the sum of U$$ 2.1 billion in assets under management, US$ 1.97 billion were in its Bitcoin Trust.
For the company, the current scenario of bitcoin prices confirms the theory that the bitcoin appreciates when traditional assets stumble. According to the Director of investments and Research of Grayscale, Matthew Beck, the performance has been quite positive.
“Although it is still too early in the life cycle of the bitcoin as an investment asset, we have identified evidence supporting the idea that it can serve as a hedge in a global liquidity crisis. That is particularly true to those units that result in subsequent currency devaluations”.
The Grayscale Investments is a firm of digital assets that bridges the gap between the traditional market investor and the one that is aiming digital assets. This is provided by investing in products with a more traditional packaging that fits specifically to this audience. In addition, the company works with cryptocurrencies such as ethereum, litecoin, stellar and ripple, besides bitcoins trusts. The information is from the CoinTelegraph portal