May 4, 2021 04:21 GMTCrypto News
Digital Currency Group stated that the firm purchased a total of $193.5 million worth of GBTC shares.
The New York-based firm will invest an additional $500 million in the Grayscale Bitcoin Trust.
The negative premium on GBTC could be one of the key reasons for the expansion in allocation.
The parent company behind Grayscale, Digital Currency Group, has decided to ramp up the number of shares to acquire in the cryptocurrency fund.
DCG buys more shares while GBTC premium falls
DCG recently said that it would purchase up to $75 million Grayscale Bitcoin Trust shares, increasing by $500 million from its previous announcement.
Bridging Cultural Gaps in 2021: Crypto in China and the US
Mable Jiang is a principal on the Multicoin Capital investment team based in Hangzhou.
(Mable Jiang)
Updated Dec 17, 2020 at 3:35 p.m. UTC
Bridging Cultural Gaps in 2021: Crypto in China and the US
The information and cultural gaps between China and the U.S. are profound. I’ve been fortunate to fully appreciate this firsthand as a native Chinese citizen living in Hangzhou working at a U.S.-based investment firm.
In crypto markets, information bifurcates across the Pacific Ocean, actionable information doesn’t travel across as quickly as data packets travel over fiber. While you may be familiar with the Western channels – Telegram, Twitter, Discord, Medium – there is an entirely separate universe of crypto that exists and operates in Chinese channels – on WeChat, Weibo, Bihu and others. But that’s just the tip of the spear. The lack of overlap between these two markets is further compounded by additional cult