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Grayscale confirms record breaking buy of 20M XRP to end 2020!


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https://cryptopotato.com/buying-the-bottom-grayscale-concludes-2020-with-huge-xrp-purchase-and-10x-in-aum/

Buying The Bottom? Grayscale Concludes 2020 With Huge XRP Purchase and 10x in AUM (cryptopotato.com)

https://heraldsheets.com/grayscale-investments-makes-its-record-xrp-purchases/

Grayscale Investments Makes Its Record XRP Purchases - Herald Sheets

Above articles suggest that Grayscale investments has made record-breaking XRP purchases on 31.12.20, contrary to earlier reports of them dumping the digital token significantly.

Edited by Xrpdude
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3 minutes ago, Xrpdude said:

https://cryptopotato.com/buying-the-bottom-grayscale-concludes-2020-with-huge-xrp-purchase-and-10x-in-aum/

Buying The Bottom? Grayscale Concludes 2020 With Huge XRP Purchase and 10x in AUM (cryptopotato.com)

https://heraldsheets.com/grayscale-investments-makes-its-record-xrp-purchases/

Grayscale Investments Makes Its Record XRP Purchases - Herald Sheets

Above articles suggest that Grayscale investments has made record-breaking XRP purchases on 31.12.20, contrary to earlier reports of them dumping the digital token significantly.

Smart money.

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33 minutes ago, Xrpdude said:

https://cryptopotato.com/buying-the-bottom-grayscale-concludes-2020-with-huge-xrp-purchase-and-10x-in-aum/

Buying The Bottom? Grayscale Concludes 2020 With Huge XRP Purchase and 10x in AUM (cryptopotato.com)

https://heraldsheets.com/grayscale-investments-makes-its-record-xrp-purchases/

Grayscale Investments Makes Its Record XRP Purchases - Herald Sheets

Above articles suggest that Grayscale investments has made record-breaking XRP purchases on 31.12.20, contrary to earlier reports of them dumping the digital token significantly.

As of 31/12/20, Grayscale has 8.4M XRP in its XRP trust. 

That's ... approx 0,0415% of their portfolio.

To illustrate that bet. It's like having $100 in your porfolio and allocating $0.0415 in XRP! That's a bet but reasonable I would say : )

 

 

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@Lumpy I see that, still better than reading that they're dumping their xrp stash :) at least it's moving in the right direction. And you could look at it another way, out of 8000+ cryptos they've chosen approximately 0.001% of those - XRP is one of them and they've increased their XRP holdings. What's not to like. 

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1 minute ago, Xrpdude said:

@Lumpy I see that, still better than reading that they're dumping their xrp stash :) at least it's moving in the right direction. And you could look at it another way, out of 8000+ cryptos they've chosen approximately 0.001% of those - XRP is one of them and they've increased their XRP holdings. What's not to like. 

Agree. It's a positive signal. 

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7 minutes ago, jargoman said:

If Jed dumping 10 million XRP a day had no effect on price then greyscales entire holdings are peanuts. Retail investors are the ones buying. 

I wasn't thinking that their purchase did anything to the XRP price - just that it was a nice bit of news. The day before there were reports that Grayscale had 'dumped' XRP, so this piece of news (at least to me) was welcome. 

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50 minutes ago, Xrpdude said:

@Lumpy I see that, still better than reading that they're dumping their xrp stash :) at least it's moving in the right direction. And you could look at it another way, out of 8000+ cryptos they've chosen approximately 0.001% of those - XRP is one of them and they've increased their XRP holdings. What's not to like. 

They've just chosen like the top 5 by Marketcap plus Ethereum classic and Zcash for some reason.

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2 minutes ago, Archbob said:

They've just chosen like the top 5 by Marketcap plus Ethereum classic and Zcash for some reason.

But why fill the bags at all if they were worried that the US situation would hurt XRP? Such a major investor must have access to some fine minds and detailed research - they might have some great contacts (speculation). It's not the amount necessarily but I think the timing - at least for me - is just a nice signal. 

FULL DISCLOSURE - I haven't lost my mind over this news article, just thought it was quite a nice read. And the timing of their biggest XRP pickup could be a sign that their research indicates this might be a bet worth placing. Then again if they've gone into Ethereum classic and Zcash maybe they aren't that clued up after all :D:D

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They are just swing trading to cash in on the volatility. they sold 9 million a few days before and bought back when it dipped. The net gain for the week was only about 3 million xrp. Also its an insignificant part of the their investments. Almost all of the money is in Bitcoin and Ethereum and XRP and XLM are their smallest investments, not even 1/10 of 1 percent of their portfolio, they can afford to play with it and lose.

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Aren't Grayscale just covering existing or potential future liability positions from investors purchasing/selling shares in the relevant trust funds ?

These trusts are similar to ETF's and are an easy way to gain access to crypto currencies from regular investment accounts. They are not investment vehicles for Grayscale per se AFAIK.

I already own GBTC and recently looked into buying the Digital Large Cap Fund but the premium over the holding value was way too high at the time.

Edited by jMusic
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