Billion-Dollar Crypto Giant Reveals Bitcoin (BTC) Buying Frenzy – Plus Ripple and XRP, Litecoin, Ethereum, Stellar, Tron
From signs of institutional Bitcoin FOMO to a new way to move Stellar Lumens, here’s a look at some of the stories breaking in the world of crypto.
New numbers from the world’s largest crypto asset manager are revealing a big appetite for Bitcoin among institutional investors.
According to Grayscale Investments, the firm’s institutional Bitcoin trust now has $1.97 billion in assets under management. The number has doubled since April 2nd when Grayscale announced its Bitcoin Trust AUM had crossed $1 billion.
The firm’s Bitcoin Trust is in such high demand, buyers are paying a 36% premium on the price of Bitcoin on crypto exchanges. Each share in Grayscale’s Bitcoin Trust (GBTC) represents 0.00098247 BTC, and one share is now worth $11.63, according to the latest numbers on Yahoo! Finance. On spot crypto exchanges for retail traders and investors that amount of Bitcoin is valued at about $8.52.
5/28/19 UPDATE: Holdings per share and net assets under management for our investment products
— Grayscale (@GrayscaleInvest) May 28, 2019
The latest episode of EthHub’s Into the Ether podcast is out.
The new edition features an interview with Zerion CEO Evgeny Yurtaev, who talks about his team’s efforts to create a trustless digital bank on Ethereum.
Ripple and XRP
Marcus Treacher, Ripple’s senior vice president of customer success, has written an article for City A.M., highlighting how blockchain and the use of cryptocurrencies can boost cross-border payments.
“What makes independent digital assets unique is that they’re universal currencies, meaning anyone can use them as units of value anywhere in the world. This is the most effective way to enable truly efficient universal payment settlement.
Blockchain, combined with Interledger and digital assets, offers a unique opportunity to create a new financial services ecosystem that is much more transparent, fairer and significantly more efficient than anything we’ve seen before. Just like Apple completely reinvented the mobile phone, blockchain has the potential to reinvent financial services. This technology can bring about innovations that haven’t been thought of today and can help create a much more inclusive financial services ecosystem.”
You can check out the full article here.
The Lite Podcast is also out with a new episode.
Jacob Gadikian from Drone Energy talks about leveraging wasted energy for crypto mining, whether the process is wasteful, and the potential market effects of the Litecoin halving.
Stellar Lumens (XLM) is now live on Keybase.
The platform is designed to give users an easy way to send cryptocurrency without having to enter long and cumbersome wallet addresses.
The Singapore-based crypto exchange KuCoin is expanding its support for Tron’s BitTorrent Token (BTT). The token will be paired with Tron’s native cryptocurrency TRX next month.
— Justin Sun (@justinsuntron) May 27, 2019