Barry Silbert Says the Bottom is Likely in and Institutions are Already Accumulating

Barry Silbert, a major player in the crypto space (the founder of Grayscale and owner of CoinDesk for example), says he thinks the bottom is likely in and has data that shows institutional investors are already accumulating.

Specifically, to the second claim, Grayscale’s reporting shows that 56% of $250 million raised till date came from institutional investors.

That means more than half of the money invested in all grayscale products comes from institutional investors.

The important thing to note here is that Grayscale is a custodian essentially, providing the equivalent of ETFs and trusts. So there is no proof institutional investors are stealth buying on GDAX, just proof there is interest and positions being built one way or another.

To better understand what is being accumulated, one of Grayscale’s products is public, GBTC, the rest are private (AKA, you have to be accredited to get in).

They offer a large basket of options, but their main vehicles are BTC, ETH, XRP, ZEC, LTC, BCH, and ETC.

In simple terms, if he is right and the bottom is in, and if accumulation is happening like the data shows, then things could start looking up for crypto shortly.

Author: Thomas DeMichele

Thomas DeMichele has been working in the cryptocurrency information space since 2015 when CryptocurrencyFacts.com was created. He has contributed to MakerDAO, Alpha Bot (the number one crypto bot on Discord),...

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