New York-based Bitcoin (BTC) investment company Grayscale revealed its profits in the third quarter of 2020 report, in which they successfully received a new investment worth $ 1.05 billion over a three-month period.
Compared to the second quarter record, investing $ 906 million, Grayscale has seen an increase of 16%, a recent record.
The majority of this $ 720 million (68.5%) profit was invested in Bitcoin.
According to reports, the total capital invested in Grayscale has increased to $ 3.63 billion, up 40% in just three months. For 2020 so far, $ 2.4 billion has been successfully added, an increase of 195% for the first third quarter.
The firm's overall record of assets is around $ 5.9 billion.
Although developed in 2013, the capital surge was more pronounced at the end of 2018. According to the report, most investors for the third quarter, 81% were institutional players and 43% were from the United States (US).
Luckily Grayscale also brought good news for the crypto market which has seen a spate of surge lately.
Bitcoin surge sentiment was driven by MicroStrategy's decision to buy $ 425 million worth of Bitcoin, followed by a $ 50 million investment by Jack Dorsey of Square. A few days later, Stone Rich Asset Management announced the ownership of the digital assets amounting to $ 115 million. Blockchain company block.one also owns 300,000 Bitcoin.
If in the near future Visa and PayPal issue a current statement on their efforts to venture into the crypto currency industry, maybe Bitcoin will jump even higher!
