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Bitcoin premium sees trading above $11,000

Grayscale Investments, the largest digital asset investing services company, started the #DropGold campaign on May 1 2019. The campaign was launched to encourage people to invest in Bitcoin. According to the founder, Barry Silbert: “Bitcoin has the potential to radically transform our concepts of money, store of value, and the means by which assets are exchanged the world over.”
The company’s investment products allow institutional and accredited investors to gain exposure to a number of cryptocurrencies. They offer single asset investment trusts for BTC, BCH, ETH, ETC, XLM, XRP, ZEC and ZEN, as well as a diversified fund whose constituents dominate 70% of the cryptocurrency market.

Grayscale Investments recently announced that they have exceeded $2 Billion in assets under management, a significant increase from $830 million in January 2019. This shows an increased interest from institutional investors, working hand in hand with the large volume increase we have been witnessing recently.
Another factor contributing to the institutional eagerness for exposure is the staggering premium the Bitcoin Investment Trust is currently trading at. Every share is trading at $11.63 and is worth 0.00098247BTC, meaning that every Bitcoin is selling for $11,837.5, a 43.8% premium from market value.

Image licensed Shutterstock

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