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Grayscale parent firm DCG to expand GBTC buy limit by $500M

May 3, 2021. Summarized by summa-bot.

Compression ratio: 33.7%. 1 min read.

Digital Currency Group, the parent firm of Grayscale Investments, has expanded the purchase authorization of its Grayscale Bitcoin Trust from $250 million to $750 million.

Digital Currency Group, the parent company of digital asset manager Grayscale Investments, is now authorized to purchase up to $750 million worth of shares of Grayscale Bitcoin Trust.

The company announced Monday that DCG increased its prior authorization to buy up to $250 million worth of GBTC shares by an extra $500 million.

DCG mentioned that the firm had purchased a total of $193. 5 million worth of GBTC shares as of Friday.

The news comes shortly after DCG originally announced in March its plan to purchase up to $250 million of GBTC shares.

by summa-bot

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