Global investment management bank UBS, Grayscale Bitcoin Trust ( GBTC) under management 11 billionHe stated that the dollar asset could pose a danger.
The crypto bear market is known for creating an air of fear over the overall market. Projects in the market are struggling with liquidity and revenue losses. In the crypto industry, the past year has been very challenging and painful. Especially terracrisis, FTX bankruptcy, USA‘s fight against inflation, Russia Factors such as ‘s moves came to the fore. Among all these processes, Bitcoin continued to exist, although it experienced a price-based decline. However, crypto investors’ anxiety towards the crypto market has not yet subsided. In these uneasy market conditions, UBSA striking statement came from UBS, GBTCexpressed his concern about it.
UBS Highlights $11 Billion in Grayscale BTC Management
investment bank UBS, Grayscale Bitcoin Trust ( GBTC), to the Digital Currency Group ( DCG) tied. grayscalesister company of DCG faced the reality of bankruptcy. suffering from liquidity problems DCG, FTXIt is one of the companies affected by bankruptcy.
USBIn the report prepared by GBTCthe pressure on DCG ‘s also benefited from these investments. Global investment giant grayscale, 11 billiondollar 633 thousandholds 2 BTC products. UBSmentioned that this large size can have quite strong effects on the entire market.
