BTC Whale Greyscale Amasses More BTC! October Is the Right Time To Invest

The world’s largest sovereign hedge fund, the Norwegian Government Pension Fund, is reported to add more Bitcoin into its investment holdings. It has garnered indirect BTC exposure of 577.6 BTC via the Nasdaq-listed company MicroStrategy.

Grayscale Trust has become a force that can not be ignored in the crypto asset market.

On September 21, BTC fell from $10,988 to US$10,417. Two days later, Grayscale took a “sweep” and bought 17,100 BTC. This significant increase in holdings seems to have boosted market confidence. After that, BTC rose to as high as $10,956 on that day. According to statistics, in addition to $ 4.7 billion worth of BTC, Grayscale’s assets under management also includes nearly $800 million worth of ETH, accounting for 13.5% of the total investment. The remaining $300 million are BCH, ETC, LTC, XRP, Zcash, and other encrypted assets.

It has been generally acknowledged that Bitcoin has become a mainstream investment asset for major institutions. It is worth noting that even such a large institution of the Norwegian Government Pension Fund has bought more than $1 trillion Bitcoin, it only owns less than 600 Bitcoin. This shows that institutions have just entered the crypto world, and they are expected to significantly increase their accumulation in the future. If major institutions continue to place confidence in Bitcoin, it is very likely for traditional capital such as Wall Street to enter the crypto market.

Three years have passed since October 2017. In October 2017, the BTC market reached its highest point in history in just two months, and at the same time, it attested the importance of BTC in the financial market. After 3 years of accumulation, BTC has become a barometer for the world financial system, just like US stocks, gold, and the US dollar index

The COVID-19, multiple geopolitical frictions and conflicts have many investors turn on their “risk-off” mode. And the demand for hedge assets has increased notably in the past few months. Therefore, it is not a dream for digital currency to become one of the most important players in the global financial system in the near future.

bexplus

As a professional investment institution and BTC whale, the moves of Greyscale serve as barometers for retail investors. It is suggested that retail investors increase investment in October, a month generally lacks sufficient liquidity and could lead to huge price dips. Huge corrections are expected to occur in the short-term. Breaking through the previous low and forming a pin retraction will confirm the bottom divergence trend, and there will be opportunities to earn profits through futures trading.

The first step to earning profits is choosing a good exchange, which not only enables traders to engage in professional futures trading but also provides other tools to enhance the value of your assets. Besides 100X leverage, Bexplus provides wallet storage service with ultra-high annual returns. Users can earn profits in different and more flexible ways.

Why Bexplus:

  1. Most professional trading engine and technical services of the industry
  2. Simple and user-friendly trading experience. Gain the best experience on the Web or through Apps
  3. Low transaction fees and interest-bearing wallet with up to 30% annualized interest
  4. 100% deposit bonus for every user
  5. Registration is simple and fast. Trusted by traders from 30+ countries

Leave a Reply

Your email address will not be published. Required fields are marked *