Quote from: Lucius on Today at 02:14:14 PM

Quote from: fillippone on Today at 10:00:06 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).