DCG backs more than 175 blockchain-related companies in over 35 countries and is the parent company of Grayscale.
The move brings DCG’s total investment in Grayscale to $750 million.
DCG plans to use cash on hand for the purchase, and states that “The actual timing, amount and value of share purchases will depend entirely upon a number of factors, including the levels of cash available, price, and prevailing market conditions.”
The Grayscale Bitcoin Trust is the largest public holder of Bitcoin in the world, with 654,850 BTC sitting in their treasury.
The investment behemoth also has trusts for 12 other altcoins, including Ethereum (ETH), Litecoin (LTC), and Chainlink (LINK).
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Sean Pavone
The post Crypto VC Giant Ramps Up Bitcoin Investment by $500,000,000 appeared first on The Daily Hodl.
