GrayScale Bought and Holds $3.37 Billion BTC – Ready for Bull Market? | Live Bitcoin News

Grayscale Investments is a cryptocurrency investing services company, which provides market information, investment exposure, and investment products to the cryptocurrency market.

On January 21, 2020, Grayscale became an SEC reporting company, registering its shares with the Commission and designating the Bitcoin Trust as the first digital currency investment vehicle to attain the status of a reporting company by the SEC.

From February to May, Grayscale bought around 607 BTC each day, about 60,762 BTC added to its Bitcoin Trust Fund. And 34% of the Bitcoin is bought during a strong price spike, targeting $10,000. And till the end of May, Grayscale Bitcoin Trust Fund had a total of 343,954 BTC under management, and the portfolio has soared to $3.37 billion.

Institutional Investors May Boost the Bitcoin Bull Market

Institutions may now be actively allocating significant capital to BTC as an economic and political hedge, and the rapid increase in Grayscale Bitcoin Trust Fund is the solid signs point to an increase in institutional demand. As a result, the GBTC is traded at a massive premium over Bitcoin spot. In addition, the FOMO (Fear of Missing Out) emotion outburst among GBTC investors may drive them to be BTC hodlers which may take a long-term investment on Bitcoin, looking forward to the new all-time high price.

Enlarge Profit 100x in Bitcoin Bull Market with Bexplus

However, before the bull market starts, there will be many fluctuations. Bitcoin futures trading is the best instrument for us to benefit from the price move and make great profits. So, where to trade bitcoin futures contracts?

Bexplus is a cryptocurrency derivatives exchange established in 2017, offering perpetual contracts with 100x leverage on a wide range of cryptocurrencies, including BTC, ETH, LTC, XRP and EOS. Bexplus has an average trading volume of $892 million per day and is available for global traders from 80+ countries in the world.

Why choose Bexplus?

Different from some other exchanges which require users to take long KYC approval processes during registration. Bexplus allows users to register without completing any sort of AML/KYC.

Users can trade futures contracts on both computers and mobile phone, including iOS and Android. Download the Bexplus app from App stores or Google Play on mobile devices, and trade anytime anywhere.

Users can easily deposit via the tamper-resistant wallet address or scan the QR code. No service charge for the deposit. To withdraw BTC, you just need to submit the withdrawal request form and the money will be soon credited in your wallet.

Bexplus provides a trading simulator with 10 BTC. If you are a beginner or inexperienced in crypto futures trading, you can practice trading without losing money. You can also use the P/L calculator to estimate the profit/loss before entering the trade at a precise price point.

All users in Bexplus are eligible to apply for up to 10 BTC deposit bonus on a single deposit. For example, if you deposit 1 BTC in your account, you will get 2 BTC credited in your account.

Bexplus Wallet with 30% Annualized Interest

Bexplus also launches an interest-bearing BTC wallet. The wallet is a highly secured offline storage system encrypted with multi-signature technology.

For example, if you deposit 10 BTC in the wallet, you can enjoy 30% annualized interest rate. For monthly settlement, the interest will be (10*30%/365*30) = 0.24 BTC, and 3 BTC per year.

If you consider futures trading is too risky, recommend you to deposit BTC in the wallet and enjoy interest.

 

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