Grayscale reopens: Single-day purchases exceed 2,000 coins, Bitcoin rebounds strongly to $38,000

Market data shows that since falling to a low of around $31,000 on the 11th, the price of Bitcoin has gradually recovered and has now rebounded to above $37,000, with a daily increase of nearly 8%.
According to the market channel, Bitcoin fell sharply on the 11th, falling more than $8,000 a day, a drop of 20%, and closed at $31,578 a day. After stabilizing at the $30,000 mark, market buying increased, and the price of Bitcoin rose to above $35,000 for several days, and finally rose strongly to around $38,150 today.
At the same time, Grayscale, an important indicator of the market, has also resumed subscriptions for crypto trust funds (except ETH and XRP). On January 12, Grayscale Managing Director Michael Sonnenshein tweeted that qualified investors can now purchase fund shares online. "This means that Grayscale is open to new investments again after a 20-day suspension."
The latest data shows that as of January 13, Eastern Time, Grayscale BTC Trust holdings increased by 2,172.39 coins in one day, and the cumulative bitcoin holdings reached 600,000, with a market value of approximately US$22.8 billion.
In fact, since the second half of 2020, Grayscale has begun to increase its holdings of crypto assets such as BTC, ETH, LTC and BCH. Its total holdings increased by more than 200% from June to mid-December, and its annual asset management scale increased 20 times. So far, the company's asset management scale has reached US$24.7 billion.
Judging from Grayscale's increase in holdings, the company has purchased the largest amount of Bitcoin. Data shows that in December 2020 alone, Grayscale bought 72,950 Bitcoins, which is almost three times the output of miners in the same period (28,112).
Under the influence of Grayscale, a large number of Wall Street institutions have poured into the cryptocurrency market, and the price of Bitcoin has also risen sharply driven by "Old Money". For example, MicroStrategy, a listed company (established over 30 years ago, mainly engaged in business intelligence and mobile software), has invested heavily in Bitcoin. It currently holds 70,470 Bitcoins, with a total value of approximately US$1.1 billion.
In addition to Bitcoin, the prices of other tokens in Grayscale's holdings list have also risen under the influence of the company. Among them, the price of ZEC has risen from $70 in early December to around $113 at present, an increase of more than 50%. On January 10, ZEC rose significantly, with a price increase of 20%.

It is reported that on January 10, Grayscale founder and former CEO Barry Silbert tweeted, "It looks like 2021 will be the year of privacy, decentralization, and resistance to censorship," and listed two tokens, ZEC and ZEN.
As of press time, Bitcoin is priced at $37,367, up 7.8% in 24 hours. (Mars Finance)