From bitcoin (BTC) rate doesn’t look too good. The price dropped below $30,000 last night and sentiment appears to be negative for now. However, you could also read on Crypto Insiders lately that a number of large investors seem to seize their opportunity. A major player that has increased its position in bitcoin in recent months is the large Rothschild Investment Corp.
Rothschild Investment Corp. is an investment firm that manages tens of billions of dollars. At the beginning of this year, it was already apparent that the major player was interested in bitcoin. Then it already increased its position in bitcoin. In recent months, the company has taken it even further.
from a document It filed with the U.S. Securities and Exchange Commission (SEC) reveals that it now owns 141,405 shares in Grayscale’s Bitcoin Trust fund (GBTC). This fund offers large institutional investors an easy way to invest in BTC while complying with all guidelines.
141,405 is a decent increase from the April announcement. At that time, it only owned 38,346 GBTC shares. While all of this sounds grand, it may be a little less impressive in absolute numbers. 1 GBTC share represents 0.000939767 real BTC. Rothschild Investment Corp thus owns approximately 133 bitcoins worth just under $4 million. Small money actually.
‘These kind of bitcoin investors look to the long term’
Nevertheless, it is an interesting signal that even such a major player has significantly increased its position in bitcoin. This in a period when bitcoin went down hard and even decreased in value by half.
Grayscale CEO Michael Sonnenshein noted this week rightly so that such investors do not look at such moves that happen in the short term. He said in an interview with US CNBC:
“These are really investors looking at their allocations over the medium to long term, so any volatility or dampening of volatility is something that nobody cares about.”
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