Digital Currency Group (DCG), the renowned crypto investment firm, will invest $ 250 million in Bitcoin (BTC) through Grayscale’s Bitcoin Trust (GBTC), the BTC fund of the world’s largest crypto currency manager.
DCG issued a press release in which it explained that it will use its own reserves to buy shares in BTC. Each GBTC share is equivalent to a certain amount of BTC, and can be traded at a price lower or higher than the asset’s own price.
” The share purchase authorization does not oblige DCG to acquire any specific number of shares in any period and may be extended, extended, modified or interrupted at any time,” reads the press release shared by the firm.
The document also explains that “the actual timing, quantity and value of the purchase of shares will depend entirely on a number of factors, including the levels of available cash, price and prevailing market conditions.”
In recent days, it became known that Grayscale’s BTC Fund also hosted a $ 100 million investment by one of Israel’s largest fund managers – Altshuler Shaham.
Grayscale stands out as the investment firm with the most BTC under management, and one of the financial companies that has grown the most during 2020.