The company Grayscale Investments has bought up 150 percent of all Bitcoins (BTC) that have been mined since the halving. Meanwhile, Crayscale CEO Barry Silbert mocks the big investment bank Goldman Sachs.
The evening of May 11th saw the third Bitcoin BTC halving to date. Since then, miners receive only 6.25 BTC for finding a new block, half the previous reward.
Grayscale buys 150% of all new Bitcoin (BTC)
A few hours ago, analyst Kevin Rooke published a chart which – depending on one’s point of view – illustrates either the extreme scarcity of BTC or the Bitcoin hunger of a single company: At the time of writing, 12,337 BTC had been mined since the halving, while in the same period a single company had bought 18,910 Bitcoins (a good one and a half times that amount): Grayscale Investmens.
Goldman Sachs: Cryptocurrencies are not an asset class
So while this company accumulates Bitcoins on a large scale, the large investment bank Goldman Sachs seems to remain crypto-sceptical. Recently, some observations gave rise to hopes that the bank would adopt a Bitcoin-friendly course, but these hopes have not been fulfilled:
In fact, it had been announced in advance that the financial institution had scheduled an audio conference with its clients yesterday on Wednesday, entitled „Effects of Current Policies on Inflation, Gold and Bitcoin“.
Unfortunately, it was not BTC that was recommended for crisis protection, but rather the coins were delegitimised. For example, it was said: „Cryptocurrencies including Bitcoin are not an asset class“.
Grayscale boss mocks Goldman
Fortunately, the strong Bitcoin purchases by Grayscale show that Bitcoin is not dependent on the well-known investment bank for institutional investors. Or as Rooke put it: „Wall Street wants Bitcoin, and they don’t care what Goldman Sachs has to say.“
This tweet was also picked up by Grayscale CEO Barry Silbert, who mocked that the market capitalization of Bitcoin was greater than Goldman Sachs. Silbert also recently pointed out that his company not only invests heavily in BTC, but also in Ethereum (ETH). In the course of one year, the Grayscale Ethereum Trust grew from 11.7 to 276.5 million US dollars.