The Revelation of Grayscale’s Bitcoin Trust: Unlocking $16 Billion in Onchain Bitcoin Assets
Discover the hidden secrets of Grayscale’s bitcoin reserves with the help of crypto analytics startup, Arkham Intelligence. Arkham recently exposed Grayscale’s bitcoin holdings in a post on X, shedding light on the aftermath of FTX’s downfall and the growing trend of proof-of-reserve audits. Despite Grayscale’s assurance that Coinbase securely held its BTC, the onchain addresses remained undisclosed.
Unveiling Grayscale’s Massive Bitcoin Holdings
According to Arkham Intelligence, Grayscale emerges as the second-largest holder of BTC, with an astonishing $16 billion in bitcoin. The firm revealed that Grayscale’s “Bitcoin Trust holdings are spread across over 1,750 different addresses, with each holding no more than 1,000 BTC.” Curious enthusiasts can explore Grayscale’s extensive bitcoin and crypto assets on Arkham’s platform through the provided link.
Grayscale’s Astonishing Crypto Portfolio
Grayscale’s impressive cryptocurrency portfolio includes not only $16 billion in BTC but also nearly $5 billion in ethereum (ETH). Additionally, the company possesses $1.86 million in chainlink (LINK), 1.74 million in polygon (MATIC), and several other altcoin assets. In total, Grayscale’s assets exceed $20.9 billion, with BTC and ETH dominating its holdings based on current exchange rates.
Previous Discoveries and Grayscale’s Bitcoin Trust Balance
While Arkham Intelligence brought attention to Grayscale’s bitcoin assets, it’s important to note that an OXT researcher named “Ergo” previously showcased Grayscale’s Bitcoin Trust collection in an X thread. Ergo’s onchain analysis followed Grayscale’s reserve declarations after the FTX incident. Ergo traced funds tied to Coinbase Custody, identifying over 600,000 BTC as Grayscale’s property. As of now, Arkham’s records indicate that Grayscale’s balance stands at approximately 627,779 BTC.
Hot Take: Unmasking Grayscale’s Bitcoin Trust Reveals a Staggering Crypto Fortune
The revelation of Grayscale’s $16 billion bitcoin holdings serves as a reminder of the vast wealth hidden within the crypto industry. As more analytics startups and researchers delve into the onchain world, we can expect to uncover even more astonishing crypto fortunes. Grayscale’s position as one of the largest BTC holders highlights the immense potential and opportunities within the cryptocurrency ecosystem.
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