Is bull really continued? Although the downtrend in the price of Bitcoin since late 2017 saw 74% decline, this seems to have very less effect on New-York based Grayscale Investment venture. According to CEO, Barry Silbert, the firm has raised over $20 million in the latest week which is reportedly the highest value since 2017.
Barry Silbert, CEO of Grayscale Investment took to Twitter on April 26, 2019, and adds that $20 million funds raised have quickly marked as the highest week since 2017.
BIG week for @GrayscaleInvest -> we raised over $20 million into the Grayscale family of funds, our highest week since 2017
Grayscale’s investment counts some of the hedge fund, family offices, pensions endowments, and high net-worth individuals. The upside-down move in terms of Bitcoin price in the year 2017, 2018 and then 2019 certainly affected and influenced the investment firm’s inflows.
Thomas Lee – Another Sign, 2019 is Better than 2018
Nevertheless, the bull signal of Bitcoin this year has led the increasing interest for crypto among investors. As Co-founder of Fundstrat Global, Thomas Lee expressed his opinion – this highest week fund is a clear sign behind the rising in institutional net buying. With this view, Mr.Lee notes ‘2019 is way better than 2018 for crypto’.
Nevertheless, Bitcoin begins the month of April with all new value after a long term – it began trading at more than $5000 against USD. The value recently jumped higher and hit the value over $5500, but at press time, the value seems unfavorable.
According to coinmarketcap, Bitcoin is now trading with a decline of 0.76 percent over the past 24 hours which eventually marked its value at $5248 against US Dollar. Moreover, in terms of market cap, the currency is still holding its ruling position and valuing the trading capitalization of $92,731,637,413.
As experts view more institutional investors are entering the crypto space for a while now, do you agree with the opinion.? Let us know your thought.
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com