The S & P500 Index fell 7.89% due to growing concerns about the spread of the new coronavirus infection (second wave) in Europe and the United States. Cash returns over the past week have caused the "US dollar" to skyrocket, and riskier assets such as stocks, gold and bitcoin plummeting.
Meanwhile, on the US stock market on December 25, the Dow average ended at $ 27,173, up $ 358 (1.3%) from the previous day.
The gray scale buys BTC in bulk
Grayscale Investments has found that it has bought an additional 17,100 BTC over the past week.
The Grayscale Bitcoin Trust, which has a copy of the "opportunity in the digital golden age" on its official website, is said to own 4.8 billion dollars (500 billion yen) worth of bitcoins, mainly due to demand from institutional investors.
Founded in 2013, Grayscale Investments is a subsidiary of the Digital Currency Group, whose main investment business is digital currencies, and is headquartered in the financial center of New York, with other customers including hedge funds and family offices. Includes pensions, funds and eligible investors.
"Grayscale Bitcoin Investment Trust" is an investment trust that uses the market price as a benchmark, and is the first security to invest solely in bitcoin. Particularly in demand is the "Grayscale Bitcoin Trust (GBTC)" open investment trust.
The gray scale BTC assets are held by Coin-Based Custodians as Custdians.
GBTC aims for an investment return where the ratio of BTC ownership per recipient certificate is linked to the market price of bitcoin, and there is no risk of leakage or "private key" hacking, which is a virtual currency-specific problem. Demand is increasing especially for institutional investors. "Premium (price difference)" occurs normally.
In April of this year, Grayscale said that $ 389 million was invested in Bitcoin Trust in the first quarter of 2008. "One-year inflows exceeded $ 1 billion for the first time, and institutional investors are investing in digital assets. This shows that we are increasing our exposure. us. "
Grayscale cumulative input data is gray scale
Bitcoin Trends
The 28th crypto asset market (virtual currency). Bitcoin (BTC) price recovered to 1.153 million yen ($ 10,938), up + 12.28% from the previous day.
Although there is a scene where it will fall around 200 dollars on the 27th, it can be seen that it has certain strengths, such as turning around without breaking below 1,500 to 1,600 dollars. If it continues to add up, $ 11,100 will likely serve as a foundation of offense and defense.
Based on a 2015 comparative fractal analysis, overseas analyst Nunya Bizniz ( @Pladizow ) acknowledged that the support line is being re-examined after breaking through the global downtrend. A successful roll reversal is likely to raise long-term bullish market expectations.
BTC chart comparison
Posted Using LeoFinance Beta
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