Cryptocurrency (Mar 11, 2021 10:01AM ET)
DCG to Buy $250M Shares in Grayscale Bitcoin Trust
- Grayscale parent company DCG is planning to buy $250 million shares in Grayscale Bitcoin Trust.
- However, DCG will purchase the shares on an open market while funding them with cash on hand.
Digital Currency Group (DCG), the parent company behind Grayscale Investments, is planning to buy $250 million shares in Grayscale Bitcoin Trust (OTCQX: GBTC).
However, DCG said that it will buy the shares on an open market while funding it with cash on hand. Based on a press release (PR), the DCG purchase plan does not strictly force it to get any specific number of shares at any given time.
Also, buying a share depends on many factors. These factors include time, the value of the shares, market state, and more, according to the PR.
In fact, Grayscale Investments is the world’s leading digital asset firm. A crypto company that allows credible investors to gain access to a basket of cryptos anytime, anywhere without hassle. Also, Greyscale makes it easy for investors to buy, store, and safely keep digital assets.
Moreover, the firm does all these via the Grayscale Digital Large Cap Fund. In addition, Grayscale recently disclosed that it is exploring new digital assets with more product offerings for its clients. The move includes increased sales of its OTC assets. Notably, the company aims to add product options and digital assets to increase investors’ exposure to the crypto space.
This article first published on coinquora.com