Paul Tudor Invests $210 Million in Bitcoin, Weiss Crypto Rating Reveals

5d946d8cbd798-bpfull
Umme Haani
Umme Haani is a writer for Thecoinrepublic. she contributes a researched piece on cryptocurrencies and updates. Umme is an aspiring engineer who immensely enjoys writing and technical writing brings the best of both worlds under one roof for her.
  • Weiss Crypto Rating highlighted that Paul Tudor Jones has recently made a huge investment in Bitcoin worth $210 million.
  • The crypto rating site took to Twitter yesterday to highlight that smart money is seeing higher crypto prices in the near future.
  • It asserted in its tweet that the trusted crypto asset manager, Grayscale is doubling its ante.

Weiss Crypto Rating took to Twitter yesterday to highlight that smart money is seeing higher crypto prices in the nearing time. Weiss Crypto Rating is the leading cryptocurrency and stock ratings provider. 

The crypto rating provider stated the reason for this prediction of higher crypto prices. Through its tweet, the site further notified that Paul Tudor Jones has recently made a huge investment in Bitcoin worth $210 million. Paul Tudor Jones besides being the Forbes’s 400 Billionaire is known as the legendary trader. 

Earlier this month, Paul had stated his view regarding Bitcoin benefitting due to COVID-19 as there would be currency digitization. He believed that BTC would excel in its performance as people besides looking for safer assets have started to seek cryptocurrency.

Bitcoin’s ease of ownership and its utility will be the driving factors for BTC’s adoption mainly in the current scenario. However Paul also stressed on the fact that  there exists decreased demand regarding stock prices. Although he doubts it won’t continue for long. 

Grayscale Doubling its ante, Tweets Weiss Crypto Rating 

Advertisement


Weiss Crypto Rating alongside the mention of Paul, threw light on the current scenario at Grayscale. It asserted in its tweet that the trusted crypto asset manager, Grayscale is doubling its ante. In other words, it is up in the game of making huge investments in Bitcoin and other cryptocurrencies. 

Reportedly, the crypto fund manager has accumulated BTC at a rate even higher than the rate at which miners are creating BTC Post-Halving. Also Grayscale bought over 60k BTC only in the first quarter of 2020. Presently, this asset manager has been making double the purchases on an average by each passing day. 

Hot News

Bitcoin Supply Cut Due To Lost Keys And Burning

Bitcoin Halving is basically a mechanism to control its supply and supply of the same is set at 21 million coins. The 21...

Mathew McDermott to Serve As Goldman Sachs’ New Head Of Digital Assets

The leading investment banking firm, Goldman Sachs Group Inc. has promoted Mathew McDermott to become the head of the digital asset markets. McDermott...

Interview with Mikk Maal, the founder of Comistar

Hey Mikk Maal, thanks for taking the time to join me in this interview to educate our community on Comistar. Can you give us...

LISK [LSK] Anticipates Price Rise as Ascending Triangle Asserts Supremacy

The price volatility is re-entering in the cryptocurrency market in the past few weeks. Lisk is one such Low cap altcoin presently ranked...

Forbes Reveals List of Bitcoin Institutional Investors

Forbes released a list of 20 institutional Bitcoin Investors who already filed paperwork with the U.S Securities and Exchange Commission. This consists of...

Korea’s Bank To Create A Blockchain Based Financial Ecosystem With Three Other Firms

Kookmin Bank has recently announced their ventures in the world of blockchain and cryptocurrency. On August 7th, Kookmin Bank officially signed business agreements...

Partners

RELATED NEWS

Bitcoin Supply Cut Due To Lost Keys And Burning

Bitcoin Halving is basically a mechanism to control its supply and supply of...

Mathew McDermott to Serve As Goldman Sachs’ New Head...

The leading investment banking firm, Goldman Sachs Group Inc. has promoted Mathew McDermott...

Interview with Mikk Maal, the founder of Comistar

Hey Mikk Maal, thanks for taking the time to join me in this interview...