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Institutions Absorb All Available Bitcoins | This Week in Crypto – Jan 18, 2021

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Digital asset manager Grayscale Investments has added another 2000 BTC to its Bitcoin Trust on its first day back.  Grayscale Bitcoin Trust temporarily closed its doors to new investors on December 21—and just reopened them earlier this week. Considering the blockchain’s block production rate, in just one day Grayscale bought nearly two and a half days’ worth of BTC mined worldwide.

Cameron and Tyler Winklevoss are reportedly exploring the option of taking their cryptocurrency exchange, Gemini, public. This means that the New York-based exchange could follow in the footsteps of other cryptocurrency-related companies with similar intentions – namely, Coinbase and Bakkt.

Creditors who lost funds through the Mt. Gox disaster of 2014 are finally being given a chance to get their money back. An agreement has been formed by the trustee that will allow victimized creditors to garner roughly 90 percent of the remaining Mt. Gox Bitcoins that have been socked away since the exchange filed bankruptcy roughly seven years ago.

ECB President Christine Lagarde is calling for global regulation of Bitcoin. In a Reuters interview, Lagarde commented that Bitcoin has led to excessive financial crime over the years, predominantly money laundering; and believes there are too many “legal loopholes” surrounding the digital asset, which she also claimed is not even a valid currency.

A British man is begging members of his local city council to let him search a nearby landfill for two hard drives. The hard drives are rather important to him as they contain nearly $300 million in bitcoin but they were accidentally discarded eight years ago.

That’s what’s happened this week in crypto. See you next week.

A special thanks to eToro for sponsoring this video.

Jack Pellington is a seasoned writer with a deep passion for the convergence of technology and finance. He has spent several years covering the latest developments in blockchain, cryptocurrency, and fintech, providing insightful and comprehensive analysis. Jack's work has appeared in numerous esteemed publications and he holds a degree in Financial Economics. Jack is dedicated to educating his readers about the transformative potential of emerging technologies as he takes his work on the road, exploring Europe.

View all Posts by Jack Pellington

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