by Rushali 
Grayscale, a digital asset manager, is holding up Bitcoins faster than anything else. It has accumulated around 40,000 BTC to its stash since January 13. That’s around $1.36 billion worth of Bitcoin in just 16 days.
Rafael Schultze-Kraft, the CTO of crypto analytics firm Glassnode, has noted this accumulation. He said that only 26,000 BTC have been mined into existence since the start of the year. This simply means that Grayscale has purchased Bitcoin at a rate that is 54% faster than the new BTC supply that has been created during 2021 so far.
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But the most amount of BTC has been accumulated in the last 16 days, which means that for the past 16 days Grayscale has been buying around 170% more Bitcoin than was mined over the same period.
If it continues to buy BTC at this rate then Grayscale will have around 5% of Bitcoin’s circulating supply, by the end of 2021, which is around 912,500 BTC.
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In the year 2020, Grayscale has purchased more than $5 billion worth of Bitcoin 2020, with the firm accumulating $251 million weekly on average during the fourth quarter raising the value of its total assets under management to more than $20 billion.
Reportedly, this massive accumulation is leading the bullish rally of Bitcoin, BTC gaining 20% within 48 hours of the Bitcoin Trust recommencing operations on January 13. But from Jan 18 the price of BTC has been falling, but then also the firm was accumulating.
