Giant investment firm Rothschild Investment Corp has bitten a huge chunk of the Bitcoin market, quadrupling its Bitcoin portfolio in about three months. According to a recent filing with the United States Securities and Exchange Commission (SEC), the billion-dollar investment outfit now holds 141,405 Grayscale Bitcoin Trust (GBTC) shares. As of April, the firm had 38,346 GBTC shares.
Rothschild now has 132.8 BTC, about $3.94 million, since one GBTC share is 0.000939767 BTC. The significant increase in the firm’s Bitcoin holdings shows that the company is not worried that the price of Bitcoin has declined in recent times. At press time, Bitcoin is trading at $29,656, after falling nearly 4% in the last 24 hours and 10% in the last 7 days. The current figure is a significant plunge from mid-May when the king coin traded at $64,500.
Rothschild also has a position in the Grayscale Ethereum Trust. Back in April, the investment company purchased at least 250,000 shares in the Ethereum trust.
Another investment firm, Ark Invest, also recently purchased GBTC. An official publication confirmed that the company bought over 310,000 GBTC shares. The page also shows a purchase of 1,046,002 GBTC shares on June 22.
Image Credits: Pixabay
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