Bitcoin (BTC) reached a full-time high on February 19 when the largest cryptocurrency aims to become a trillion dollar asset.

Another day, another bitcoin post
Data from Cointelegraph Markets and Tradingview showed that BTC / USD is hitting $ 52,932 on Bitstamp at the time of writing, after rising 1% in one hour.

Maintaining $ 50,000 support over the past two days will be profitable in the short term, analysts say, with one area in particular capturing the fantasies of the villains.

At about $ 53,600, the total market value of Bitcoin will exceed $ 1 trillion for the first time in history.

Quantitative analyst PlanB summed up on Friday: “It’s easy. In the old world, your money loses value because governments devalue currencies to finance war and the welfare state. ”

“In the new world, #bitcoin is increasing in value because mathematics sets the monetary base at 21 million BTC. The new world is now devouring the old world. ”
Grayscale adds another 1672 BTC
The data confirms that cryptocurrency investment giant Grayscale has added another $ 87 million to the Bitcoin Trust (GBTC).

On February 19, the Grayscale flagship fund increased by 1,672 BTC, which is currently just over $ 34 billion, according to Bybt’s monitoring service.

Thanks to recent acquisitions, Grayscale’s total assets (AUM) exceeded $ 40 billion for the first time. It is second only to Bitcoin, the Ethereum Trust, which contains around $ 6 billion in ETH.

“Assets under management have doubled since 01/01/2021,” CEO Michael Sonnenshin confirmed this week on Twitter.

Bitcoin purchases on shades of gray have fallen sharply in recent weeks, not in line with the size or frequency seen earlier this year. Meanwhile, Ethereum purchases returned in February after a two-month break.

These features come at a time when activity between organizations is not showing signs of declining on a larger scale. MicroStrategy, which already owns over 70,000 BTC, confirmed this week that it will raise $ 900 million specifically to increase its assets.

Comments from BlackRock, the world’s largest asset manager with almost $ 7 trillion in AUM assets, also seem to indicate that he was somewhat interested in trading with Bitcoin.

“It’s about recognizing the benefits of owning bitcoin. It’s definitely a diversification angle, ”Sonnenstein told CNN earlier this month.

Source: CoinTelegraph