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DCG To Invest $250M In GBTC


Today, Digital Currency Group (DCG) announced an authorization to purchase $250 million worth of shares in Grayscale Bitcoin Trust (GBTC).

DCG is the parent company of Grayscale Investments, which manages GBTC. But DCG plans to purchase the shares on the open market with cash on hand, but there are few other stipulations that were announced, and the actual total purchase may vary in timing and volume, depending on price and cash available.

The purchase will create indirect exposure to bitcoin for DCG, and is indicative of the group’s conviction in its GBTC product.

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