Grayscale Reports Highest $20 Million Fund-Raising This Week; Is Institutional Investors Bullish on Crypto This Year?

Tabassum Bitcoin News PublishedApril 28, 2019 | ModifiedApril 28, 2019

Greyscale CEO Reports Highest Fund of $20 Million - Is Institutional Investors Bullish on Crypto This Year

Grayscale Reports Highest $20 Million Fund-Raising This Week; Is Institutional Investors Bullish on Crypto This Year?

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’.

Source: Twitter

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.

Source: Coinmarketcap

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]
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