Bitcoin assets held and managed at BitGo and Grayscale continue to grow amid a surge in institutional investor interest in the crypto industry.
BitGo, a digital asset company, currently holds $16 billion worth of cryptocurrencies. The same value of cryptocurrencies is now managed by Grayscale, which invests cryptoassets in public trusts.
“We’re seeing unprecedented interest from institutional investors as a result of the pandemic’s economic impact, as well as Bitcoin’s extraordinary performance,” said CEO of BitGo Mike Belshe.
Grayscale Investment Holdings now manages $16 billion in assets, according to bybt.com, which tracks Grayscale assets.
Grayscale Investment Trust owns a total of almost 550,000 bitcoins with a total value of $ 13.91 billion, which is about 70% of the total BTC held by publicly traded companies, Decrypto reports citing Bitcoin Treasuries.
On December 16, the bitcoin exchange rate exceeded $20,000, thereby breaking its previous record reached in December 2017. The growth of the rate did not stop, and soon the first cryptocurrency updated its all-time high, reaching $24,000.