The Bitcoin rate crossed the $17,000 mark, and the Grayscale fund accumulated 500,000 BTC

Grayscale Fund has accumulated 500,000 BTC

Grayscale Investments cryptocurrency fund now manages over 500,000 BTC.

This represents approximately 3.37% of the total circulating bitcoins. At the current exchange rate, half a million BTC is valued at $8.46 billion.

The Grayscale Bitcoin Trust has been actively accumulating coins during 2020, with the number growing by almost 50% over the past 6 months. Last week, the fund reported the largest weekly inflow of funds in the amount of 15,907 BTC (about $215 million).

The company’s Ethereum Trust has also significantly increased its reserves this year and now owns around $1.175 billion of ETH, or 2.24% of the total cryptocurrency capitalization.

Bitcoin rate crossed the $17,000 mark

Bitcoin has risen in price to levels above $ 17'000 for the first time since January 2018.

Over the past two days, the asset has added 6.8% in price, and since the beginning of October — more than 60%. Since March 13, when the cryptocurrency rate dropped to $ 3'800, BTC has risen in price by almost 2.5 times.

Bitcoin capitalization has grown to $314 billion, and the BTC dominance index in the cryptocurrency market is now 65.2%.