Grayscale, a cryptocurrency investment firm established in 2013, now holds over 203,000 bitcoin (BTC) - an amount currently worth about $780 million according to CryptoCompare data. This makes Grayscale - a subsidiary of the Digital Currency Group - the “largest institutional investor in bitcoin”, holding “over 1%” of BTC’s current circulating supply of about 17.4 million coins.
Another week proved that deep sell-offs continue, taking Bitcoin lower and nearer the $3000 level.
The “crypto winter” that has chilled cryptocurrencies and brought them lower plodded on this week as bitcoin (BTC) plunged to fresh year lows. The selling frenzy intensified as the U.S. Securities and Exchange Commission this week postponed once again its decision on a bitcoin ETF. The new deadline to review proposals by investment firm VanEck[...]
As the cryptocurrency markets continue to sink to alarmingly low levels with almost all digital assets at all time lows, it seems that investors are running to the safe haven of the stable coin. We analyze the possibility of regulation by the SEC and speak to a number of stable coin executives.