Rooke revealed that Grayscale’s Bitcoin (BTC) Investment Trust now holds around 506,000 BTC, which is about 2.73% of “all liquid BTC supply.”
He also mentioned that since Q3 2019, Grayscale’s BTC holdings are up over 2x, and their assets under management (AUM) are up over 4x. He adds that these numbers continue to rise and Q4 2020 isn’t even halfway done yet.
Going on to share the companies, individuals and organizations that hold most of the remaining (approximately) 18 million Bitcoins, Rooke notes that Block.one, the developer of EOS and other blockchain solutions, holds about 140,000 BTC valued at around $2.3 billion or 0.667% of Bitcoin’s liquid supply.
Rooke also reveals that the US government may be holding around 69,370 BTC valued at over $1.1 billion.
Here are the rest of the major entities or people holding large amounts of the leading cryptocurrency: CoinShares (Fund) – 66,605 BTC; MicroStrategy (Public Company) – 38,250 BTC; Tim Draper (Person) – 29,656 BTC; Tezos Foundation (Private Company) – 24,518 BTC; Michael Saylor (Person) – 17,732 BTC; Galaxy Digital (Public Company) – 16,402 BTC; 3IQ – The Bitcoin Fund (Fund) – 10,630.4 BTC; Stone Bridge Holdings (Private Company) – 10,000 BTC; ETC Group Bitcoin ETP (Fund) – 7,021.4 BTC.
As reported in June 2020, Grayscale Investments, a subsidiary of Barry Silbert’s Digital Currency Group, had acquired nearly $500 million in Bitcoin (BTC), since the cryptocurrency went through its third block reward halving on May 11, 2020 – a critical even that effectively reduced the BTC supply by 50%.
During the last week of June 2020, Grayscale had purchased Bitcoin (BTC) about 3x faster, on average, than the cryptocurrency’s miners could actually generate new blocks.
Rooke had confirmed in June that Grayscale bought 19,879 BTC (appr. $184 million worth) during that past week alone. The digital currency will be part of the asset manager’s Bitcoin Trust. The company had been holding about 400,000 Bitcoins and it’s currently holding around 506,000 BTC. This means that Grayscale has acquired around 20,000 BTC per month since June of this year (and over 100,000 BTC in total).
If Grayscale keeps this up, then it’s expected that it will own roughly 3.4% of the total BTC supply (appr. 625,069 BTC) by January 2021. Grayscale might even own around 10% of the Bitcoin supply by 2024, if it continues to buy the asset at this rate.
Barry Silbert had indicated (earlier this year) that Grayscale’s Bitcoin focused fund would be buying a lot more BTC during Q2 2020 (which the company did).
As covered in early June, Singapore-based Three Arrows Capital, a digital asset hedge fund, reportedly became the first qualified investor to hold over 5% of Grayscale’s Bitcoin Trust (OTC:GBTC) shares.