Rothschild Corp Invests in Grayscale Bitcoin Trust
According to rumors on Twitter, Rothschild Investment Corp has invested in Grayscale Bitcoin Trust. The investment firm has bought 235,000 shares of GBTC worth $235,000. Although this is not the first time, the investment firm has already bought shares of GBTC earlier in 2017, which was worth $210,00 at that time. The value of GBTC shares is pegged on Bitcoin’s price.
Grayscale Bitcoin Trust
Debuted as Bitcoin Investment Fund in Sept 2013, Grayscale Bitcoin Trust is a digital currency investment product. The trust is a US-based security exchange and became an SEC reporting company earlier this year. The trust has also received FINRA approval. Thus making it eligible to let investors buy and sell its public shares under the symbol of GBTC. As mentioned earlier, the GBTC shares of the trust derive their value solely from Bitcoin’s price value. It basically allows investors to gain rewards with the Bitcoin price movement through a traditional investment vehicle.
Not to be confused with the Rothschild family
It’s also worth clarifying that Rothschild Corporation has no relation with the Rothschild family. Apart from the coincidence of sharing the same name, the investment firm has no affiliation with the so-called one of the world’s richest families. However, the reason for the confusion is clear. However, the trust has already clarified the issue multiple times on social media. On the other hand, the Rothschild family has always been a part of a range of conspiracy theories. With the news of Rothschild Investment Corp getting their feet into cryptocurrencies has opened new gates for conspiracy theorists.
Publicly traded companies investing in Bitcoin
Getting back to investing in Bitcoin, the Rothschild Investment Corp is not the only one. In the past few months, a range of public companies has adopted Bitcoin as their reserve asset. As per Bitcoin Treasuries, the publicly trading companies are currently holding around 2.92% of Bitcoin’s total supply. The list is topped by MicroStrategy inc., with a market cap of over $1.5 billion and currently holding 38,250 BTC.