California-based firm Rothschild Investment Corporation has increased its investment in Grayscale Bitcoin Trust (GBTC) by 6,000 shares.
As of October 2020, Rothschild owns 24,500 GBTC shares. At the time, Bitcoin (BTC) was in a bullish phase but was still trading below $ 20,000.
With a recent 24% increase, the firm's total GBTC shares are around 30,454 shares, representing a value of about $ 1 million with each share traded at $ 33.05.
Rothschild Investment bought Grayscale bitcoin shares for the first time in 2017 but only briefly before exiting the investment.
Later, the firm once again bought bitcoin shares in 2019.
Rothschild's investment in GBTC shows growing interest among institutional investors in cryptocurrencies.
For example, like Grayscale, Microstrategy has increased Bitcoin investment and has become one of the main contributors to Satoshi Nakamoto's asset spike.
PayPal is also not behind in supporting crypto currency trading after Bitcoin was raised as a protector of inflation and also a platform for long-term investment as the world faces the outbreak of the COVID-19 epidemic.
