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14 June 2021
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Bitcoin

Venture capital firm buys half a billion dollars in bitcoin

Cryptocurrency venture capital giant Digital Currency Group (DCG) is snapping up another 500 million in shares of the Grayscale Bitcoin Trust (GBTC).

DCG supports more than 175 blockchain-related companies in more than 35 countries and is the parent company of Grayscale and Coindesk.

The move brings DCG’s total investment in Grayscale to $ 750 million.

DCG plans to use the money available for purchase and states that “The timing, quantity and actual value of stock purchases will depend entirely on a number of factors, including the levels of cash available, price and prevailing market conditions.”

The Grayscale Bitcoin Trust is the world’s largest public Bitcoin holder, with 654,850 BTC in its treasure.

The investment giant also has funds for 12 other altcoins, including Ethereum (ETH), Litecoin (LTC) and Chainlink (LINK).

See also: Mercado Livre announces purchase of R $ 40 million in bitcoin

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