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Rothschild Investment Corp buys more Bitcoin


Chicago-based multi-million dollar investment firm Rothschild Investment Corp has quadrupled its holdings in Grayscale Bitcoin Trust (GBTC) since April.

Specifically, the corporation filed a report with the United States Securities and Exchange Commission (SEC), revealing that its GBTC shares are more than 150,000. Mainly, it was revealed that the number of shares he owned increased by almost 300% since April 2021.

Rothschild Investment Corp invests in Bitcoin

By the way, Rothschild Investment Corp, is one of the most successful investment corporations currently operating in the world. In fact, he seems to be a huge Bitcoin supporter.

, Rothschild Investment Corp buys more Bitcoin, Forex-News

In this regard, Rothschild Investment Corp, informed the SEC, which currently owns 141,405 shares of Grayscale Bitcoin Trust (GBTC). From 38,346 in the previous quarter.

Rothschild’s indirect position in BTC now represents approximately $ 4.2 million. Compared to $ 1.92 million in the first quarter.

However, the companies not only own the GBTC shares, they also own the Grayscale Ethereum Trust. In April, the investment company had around 38,346 shares.

Indeed, Rothschild Investment has been amassing GBTC since 2017. And the latest presentation shows that the firm’s appetite for exposure to cryptocurrencies is not diminishing.

Buying BTC

Today it is practically impossible to ignore Bitcoin. And it is that, more and more people in the world become users of the cryptocurrency.

For this purpose, a GBTC is estimated to be around 0.000939767 BTC. And this means that the amount of BTC that the company owns is around 132.8 BTC.

Ultimately, the data implies that the decline in prices has not worried executives. Despite the fact that Bitcoin has been declining for several months after reaching its all-time highs of $ 64,500 in mid-May.

In this regard, the CEO of Grayscale, Michael Sonnenshein says that investors like him have not turned away from short-term gains. But, they think more about the long-term growth possibilities.

By the way, on a recent episode of CNBC’s Squawk Box, Michael Sonnenshein said: «Investors in this asset class are not really focused on … short-term price movements».

In addition, he added: «These really are investors looking at their medium and long-term allocations. So any volatility or volatility damping is not something that puzzles anyone.».

As a fun fact, Michael Sonnenshein recalled that Bitcoin investors are not here to make a quick buck. Rather, they plan to keep it in the medium and long term. So volatility doesn’t matter much to them.

I close with this sentence by Jonathan Sacks: «The wisest rule in investing is: when others are selling, buy. When others are buying, sell».

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