Grayscale just updated his investors about 2019.:
A new Bitcoin boom?Grayscale reports record crypto investments for 2019Something stands out:
Digital currency manager Grayscale took in $607 million of investments in 2019, an amount that outstripped its collective inflows of the previous five years.
From their report:
Most significant asset raising year in Grayscale’s history: Investment for FY19, totaled $607.7 million, surpassed combined investment into all Grayscale’s products from 2013 through 2018.
Largest quarterly investment to Grayscale® Bitcoin Trust ever: With $193.8 in 4Q19, investment into Grayscale Bitcoin Trust exceeded the $171.7 million in investment raised in 3Q19.
The current situation is this one:
Please note the relative size of Bitcoin Investments comparet to shitcoins.
You can download the complete report
here (you need to prive an email-trowawaymail will work).
So returning on topic, doing some back of the envelope calculations:
USD 607 millions@BTCUSD8,000 means roughly 75,000 bitcoins were bought this year.
After the halving each year 6.25*6*24*365 Bitcoins will be mined.
This means Greyscale alone will buy more than 20% of newly mined Bitcoins next year.
Of course this doesn’t mean only the new mined bitcoin will be bought by Greyscale: they will probably buy via OTC desks from whales, nevertheless this is a looming offer on the market that will be swept away.
Do not forget also Jack’s Square, who has been buying massively bitcoins over the last quarters.
How cannot this be bullish?
This is Stock to Flow in full power!