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Three Arrows Capital Invests $1 Billion in Bitcoin via Grayscale’s Trust

Three Arrows is the latest investment giant to invest $1 billion in Bitcoin as a hedge investment. It is just a start as more and more firms are embracing the crypto sector.

Latest Institutional Investor in Crypto Space

The investment of Three Arrows is the second largest capital inflow in Bitcoin after MicroStrategy. The Singapore-based hedge manager has decided to invest $1 billion in the top digital asset to anticipate a significant return. At the current time, high profit on investment is only expected from Bitcoin. It is because the flagship cryptocurrency has outperformed the majority of traditional assets in yearly performance.

Three Arrows does not buy Bitcoin directly but rather purchase via Grayscale, the largest crypto asset management firm. As Grayscale is a secure and regulated entity, the companies like to invest in its products, such as Bitcoin Trust. Over the recent few months, the publicly traded Trusts of Grayscale have shown enormous success. As per the tweet of Three Arrows Capital co-founder Kyle Davies, the firm now owns 38888888 GBTC (36969 BTC).

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As per the latest update, Grayscale is now holding $22.8 billion in assets under management.

On the other hand, many investment entities did not invest in the top digital asset via Grayscale’s products. For instance, MicroStrategy purchased BTC worth $600 million with the US largest cryptocurrency exchange Coinbase.

“I know you guys aren’t really panicking about #Bitcoin, but in case you are… One River ($1.6B fund) bought $600M & will buy $400M more, Guggenheim ($5.3B fund) will buy $530M, SkyBridge ($9.2B fund) bought $182M, Ruffer ($27B fund) bought $744M, MassMutual ($675B AUM) bought $100M,”Blockstream CSO Samson Mow explained in his tweet.

The heads of these investment firms have raised their voices in favor of crypto-assets and their high potential. For instance, MicroStrategy CEO Michael Saylor has praised the top digital asset and has also encouraged others to enter into the cryptocurrency space.

In the second half of 2020, many Wall Street personalities and companies turned towards the flagship cryptocurrency. The decreasing supply over the cryptocurrency exchanges is proof that people are storing the leading digital coin for a more extended period.

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JP Morgan believes the price could reach over $146,000 in 2021 as capital transfers from gold bullion into Bitcoin. Similarly, Bitpay CCO Sonny Singh predicts $45,000 for the next month.

 


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Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

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