Now we know who has been buying all that BTC from Grayscale...
We have been hearing how much demand there has been for BTC through Grayscale, and now we know from who...
There have been numerous reports (and leaks) about the unreal demand coming into Grayscale and their bitcoin investment trust as of late...
Some of which can be seen here:
https://hive.blog/hive-167922/@jrcornel/grayscale-continues-to-buy-more-btc-than-is-being-created
Though we didn't have much data or information on who exactly was buying up all their shares, beyond the usual "hedge funds" and "institutions" jargon that we normally get.
Well, as of today, we got a very clear picture who was buying up all those shares...
Three Arrows Capital filed a SCHEDULE 13G late yesterday indicating they had obtained a large stake in GBTC.
How large you might be wondering?
How's this for large:
(Source: https://www.sec.gov/Archives/edgar/data/1588489/000110465920072126/tm2022330d1_sc13g.htm)
They now own more than 6% of all GBTC outstanding shares (21,057,237 shares), or a little over 20,000 bitcoins!
They are required to report this investment (once it crosses the 5% threshold) within 10 days of doing so.
Which means, they acquired this large stake sometime in the recent past.
This is very interesting considering aside from this filing, the next largest holder of GBTC listed on yahoo.finance (which may not be up to date) as only holding 1.7 million shares.
Stay informed my friends.
-Doc