Digital Currency Group Plans to Put Up to $750 Million Into Shares of Grayscale Bitcoin Trust
Barry Silbert’s crypto venture capital behemoth Digital Currency Group is set to invest up to $750 million into the shares of Grayscale Bitcoin Trust, according to a May 3 press release.
In early March, DCG announced its initial plan to purchase $250 million worth of GBTC shares.
Grayscale’s parent company is not obliged to actually acquire any shares. The timing of purchases, if any, will depend upon a number of factors:
The share purchase authorization does not obligate DCG to acquire any specific number of shares in any period, and may be expanded, extended, modified, or discontinued at any time. The actual timing, amount and value of share purchases will depend entirely upon a number of factors, including the levels of cash available, price, and prevailing market conditions.