Digital asset manager Grayscale is showing fiddling signs of slowing down its Bitcoin accumulation, adding around forty,000 BTC to its stash since January 13. That'due south around $1.36 billion worth of Bitcoin in just 16 days.

The dramatic accumulation was noted by Rafael Schultze-Kraft, the CTO of crypto analytics house Glassnode, who noted that only 26,000 BTC have been mined into existence since the commencement of the twelvemonth. That means Grayscale has purchased Bitcoin at a rate that is 54% faster than new BTC supply has been created during 2021 then far. However the vast majority was purchased in the last 16 days, meaning that for the by two weeks Grayscale has been buying around 170% more Bitcoin than was mined over the same period.

If information technology keeps buying at such high levels, Grayscale will take amassed 912,500 BTC, or roughly 5% of Bitcoin's circulating supply, by the stop of 2021.

Grayscale purchased more than than $five billion worth of Bitcoin in 2020, with the firm accumulating $251 1000000 weekly on average during the 4th quarter — driving the value of its total assets under management to more than than $twenty billion.

The fund manager'southward massive BTC purchases have long been rumored to exert a significant impact on Bitcoin's price, with BTC gaining 20% within 48 hours of the Bitcoin Trust recommencing operations on January 13. However, since Jan eighteen, Bitcoin's price fell from $35,000 to $34,000 even while the firm was accumulating BTC.