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You can find a very similar graph in the OP's spreadsheet
August 16, 2020, 10:44:12 AM
Apparently the TV ad played out:
Grayscale investments enjoys it’s best week ever after national ad blitz Quote Grayscale Investments had its best fundraising week in history following an ad blitz on a number of major television networks. According to the company’s CEO Barry Silbert, Grayscale netted $217 million in investments in the days following the campaign. The firm’s Bitcoin Trust Fund was the biggest contributor to the success, adding 14,422.01411512 Bitcoin (BTC) at a value of $167,932,466, according to an SEC filing. The firm is currently holding 409,131 BTC, essentially removing it from circulation. August 13, 2020, 03:02:14 AM
As far as I know, Grayscale is by far the biggest player in the BTC ecosystem. As per the attached spreadsheet they now control more than 2% of the entire BCT supply. Square is getting bigger, and other competitors just started taking steps in this direction, given the huge amount of money to be made. Yet, the pressure is not against the newly mined bitcoin, but against the total supply. So a lot has to be done. But nonetheless, I expect this business growing steadily over the next quarters. Remember that bitcoin is still tiny. The entire market cap of Bitcoin is equal to the market cap that Amazon raised in the month of July only(more or less 220 billions). Coinbase holds around 1 million coins, that's 4.7% of Bitcoin's supply. And technically, Satoshi also owns 1 million coins, so he's also the biggest player in Bitcoin ecosystem, though he's disqualified cause he's inactive now. Still, holding 2% of supply is pretty big. I wonder if there's any entity that holds 2% of all gold in the world? Easy answer to this. Approximately all the gold mined in human history is around 200,000 tonnes, that could be concentrated ona 22 meters cube  Quote Total above-ground stocks (end-2019): 197,576 tonnes https://www.gold.org/goldhub/data/above-ground-stocks
So central Banks are the Official Holding part, around 34,000 tonnes, andare for sure the most concentrated. On the officially reported holdings ofGold Reserves chart, the US Treasury is stated holding around 8,000 Tons of GOLD: that would be around 4% of the total supply. Second place for Germany, with 3,800 Tons, or 1,7% o the total supply. So the answer to your question is: "Yes, there is only one institution controlling more than 2% of the total Gold Supply: the US Government". When speaking about "entities" I was actually referring to "financial instuments" controlling bitcoins, e.g. ETF's, ETP's , pension funds, or even listed companies, holding Bitcoins. August 13, 2020, 01:12:41 AM
I found this a bit late but still very relevant and I wish more of the news items would be focusing on some of these factual items instead of just saying "Grayscale is big and institutional so it's good news for everyone" all the time.
And yes, we can say shit about their marketing all we want but they know how to do it for sure, they're targeting their audience, and it seems about right the way they're doing it. August 12, 2020, 09:11:25 PM
As far as I know, Grayscale is by far the biggest player in the BTC ecosystem. As per the attached spreadsheet they now control more than 2% of the entire BCT supply. Square is getting bigger, and other competitors just started taking steps in this direction, given the huge amount of money to be made. Yet, the pressure is not against the newly mined bitcoin, but against the total supply. So a lot has to be done. But nonetheless, I expect this business growing steadily over the next quarters. Remember that bitcoin is still tiny. The entire market cap of Bitcoin is equal to the market cap that Amazon raised in the month of July only(more or less 220 billions). Coinbase holds around 1 million coins, that's 4.7% of Bitcoin's supply. And technically, Satoshi also owns 1 million coins, so he's also the biggest player in Bitcoin ecosystem, though he's disqualified cause he's inactive now. Still, holding 2% of supply is pretty big. I wonder if there's any entity that holds 2% of all gold in the world? August 12, 2020, 10:40:56 AM
We can talk shit about greyscale about the way they are treating their customers, but for sure thy know how to market their funds.
First, they released a new ad.  Very nice campaign, less impact than #dropgold, but still a it is goinf to be of a certain impact. Special mention for the Ramones Sountrack, very cool. Secondly they released a Digital Currency Toolkit for Financial Advisor: Quote In the Toolkit When you download the Digital Currency Toolkit for Financial Advisors, you can expect to learn more about:
Quote We know that digital currencies may not be a fit for everyone, but having an objective understanding of the asset class is increasingly important. By providing financial advisors with what they need to stay informed, you can have thoughtful conversations with your clients about digital currencies. As the market evolves, so will this page, as we are committed to providing you with the most up-to-date intelligence to best guide your clients. Pity they didn't include my equivalent: 5 Resources to teach Average Joe about Bitcoin August 05, 2020, 09:29:49 AM
Pretty impressive, of course saying that Grayscale and Square together bought 135% of mined bitcoins is naive, but gives the idea of the buying pressure it is going to hit BTC markets soon. Can we then say with at least some certainty that it is Grayscale that is responsible for the price increase that occurs after halving? I somehow lived in the belief that they buy BTC through OTC and that it does not affect the price too much - is it possible that even the OTC market can not withstand such buying pressure, so we now see effects in the open market? On the other hand, are there perhaps other similar funds that do the same as Grayscale, in the sense that they buy some significant quantities of BTC and perhaps are not so exposed in the media? I'm not sure if I've already asked that question in another thread, but how long do you think Grayscale can put this kind of pressure on the BTC market, can we expect even higher percentages in Q3/Q4? As far as I know, Grayscale is by far the biggest player in the BTC ecosystem. As per the attached spreadsheet they now control more than 2% of the entire BCT supply. Square is getting bigger, and other competitors just started taking steps in this direction, given the huge amount of money to be made. Yet, the pressure is not against the newly mined bitcoin, but against the total supply. So a lot has to be done. But nonetheless, I expect this business growing steadily over the next quarters. Remember that bitcoin is still tiny. The entire market cap of Bitcoin is equal to the market cap that Amazon raised in the month of July only(more or less 220 billions). August 05, 2020, 09:14:14 AM
Pretty impressive, of course saying that Grayscale and Square together bought 135% of mined bitcoins is naive, but gives the idea of the buying pressure it is going to hit BTC markets soon. Can we then say with at least some certainty that it is Grayscale that is responsible for the price increase that occurs after halving? I somehow lived in the belief that they buy BTC through OTC and that it does not affect the price too much - is it possible that even the OTC market can not withstand such buying pressure, so we now see effects in the open market? On the other hand, are there perhaps other similar funds that do the same as Grayscale, in the sense that they buy some significant quantities of BTC and perhaps are not so exposed in the media? I'm not sure if I've already asked that question in another thread, but how long do you think Grayscale can put this kind of pressure on the BTC market, can we expect even higher percentages in Q3/Q4? Jump to:
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