Digital Currency Group (DCG), the parent company of the world’s largest crypto asset manager Grayscale has approved to increase the purchase of Grayscale Bitcoin Trust ($GBTC) worth $750 million in a recent announcement. The recent purchase would increase the GBTC holding by $500 million on top of early authorization for a $250 million purchase.
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As per the latest holding reports, DCG has purchased $193.5 million worth of GBTC and the additional $500 million purchase would be funded by the cash surplus of the company.
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An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
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