Grayscale buys third of all Bitcoin mined in 3 months

In its mission to stockpile major cryptocurrencies, reports are that Grayscale Investments has bought up to 33% of all newly minted bitcoin over the last three months. Grayscale became aggressive in its acquisitions after April, as Bitcoin’s third halving hype reached fever-pitch.

The investment fund has added 60,762 BTC to its Bitcoin Trust Fund between 7 February and 17 May, say reports. That’s the equivalent of 607 BTC acquired by Grayscale each day during the 100-day period.

About 34% of BTC added during the three months were bought in just 17 days amid a checkered spike in the price of BTC, targeting $10,000. As of 17 May, the Grayscale Bitcoin Trust Fund had a total of 343,954 BTC under management, up 21% from 283,192 BTC held 100 days earlier.

In value, the portfolio has soared to $3.37 billion from $2.77 billion, at prevailing market prices.

Grayscale operates ten cryptocurrency investment products focused on institutional investors.

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