Fund has bought bitcoin for $173 million – more than what has been mined since the halving

Fund has bought $173 million of bitcoin since the halving – corresponds to 150 % of the new supply

Image source: Shutterstock / Grayscale Investments

2020-05-28 12:15

Teodor Stig-Matz

teodor.matz@trijo.co

Grayscale Investments has shifted to yet another gear in its apparent mission to buy as much bitcoin as possible.

Last week it was reported that Grayscale Investments, which runs the world’s biggest bitcoin fund, has bought extremely large amounts of bitcoin in the past three months.

That number corresponded to about a third of all new bitcoin mined during the same period.

Two weeks – $173 million

Now it seems that Grayscale Investments has shifted to yet another gear.

Since bitcoin’s much-anticipated halving, just over two weeks ago, there has been 12,337 new bitcoin mined. During the same period, the fund bought 18,910 bitcoin, numbers that were first shared on Twitter by crypto researcher Kevin Rooke show.

This means that Grayscale Investments has bought a number of bitcoin that corresponds to 150 percent of the new supply. 18 910 bitcoin, by the way, is worth about $173 million.