We can't stop them anymore
- The days go by and look the same: the Asian investment fund Three Arrows Capital is the last hedge fund in a long list to increase its bitcoin-centric position ... And the least we can say is that its managers are not going dead hand.

The hardest part is the first billion

As is often the case with the crypto-media The Block, which released the news of the day: Three Arrows Capital, a hedge fund based in Singapore, is not doing it by halves! Indeed, the group continues to evolve its exposure to Bitcoin, through Grayscale and its Bitcoin fund (GBTC).

And the hedge fund has therefore just informed the American financial policeman of its new plans: to increase its exposure to exceed the billion dollars of bitcoins held, or some 36,969 bitcoins (or 6.1% of bitcoins managed by Grayscale).

Evolution of the number of bitcoins held by the Grayscale Bitcoin fund, source: The Block.

Institutionals and big investors are off to a good start, and there is no indication that their compulsive urge to hoard Bitcoin will pass them anytime soon. Grayscale will be the last to complain, with the firm just recently surpassing $ 20 billion in cryptocurrency under management.

Post a Comment

Previous Post Next Post