- 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.
Last week, we learned legendary trader and Forbes 400 billionaire Paul Tudor Jones plowed at least $210 million into #Bitcoin. Now #Grayscale is effectively doubling the ante. Clearly the "smart money" sees sharply higher crypto prices ahead — as do we.
— Weiss Crypto Ratings (@WeissCrypto) May 29, 2020
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
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.