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Grayscale invests in altcoins amidst growing institutional interest in Bitcoin

Anna B. — Wed, 03 Mar 2021 13:11:14 +0000

Grayscale Investments made several large investments into altcoins, including Ethereum, Litecoin, and Stellar Lumens. According to BTCManager.com, the company purchased 243,519 ETH, 35,855,625 XML, and 174,939 LTC in the past month. It is worth noting that the amount of Litecoin bought by Grayscale comes up to 80% of all Litecoins mined in January, the source says.

ETH has seen about 5% growth in the past 24 hours and is trading at around $1,600 at the time of writing. Litecoin’s price has increased by about 7% in the past 24 hours and the coin is trading at around $195. Stellar’s price has increased by about 2.8% and it is currently trading at $0.43.

Grayscale is a company providing investment products for digital currency investing since 2013. Last week, it announced the interest in expanding its product offerings by considering 23 cryptocurrencies, as per a press release.

Lately, interest in cryptocurrencies has been growing among institutional investors. Several large organizations either expanded their crypto holdings or purchased Bitcoin for the first time. Tesla invested $1.5 billion into Bitcoin while MicroStrategy’s total investment has already reached 90,859 BTC.

Bitcoin is slowly recovering from the dip to around $44,000 on February 28. It is trading at about $52,300 at the time of writing.

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Ghana’s Central Bank supports blockchain projects with a pilot of a regulatory sandbox

Anna B. — Mon, 01 Mar 2021 07:00:00 +0000

The Central Bank of Ghana, with the goal of supporting blockchain-related projects in the country, launched a pilot of a regulatory sandbox, BTCManager.com reports. According to the source, citing the press release by the bank, the new framework aims to improve financial inclusion in the country and support financial innovations such as ones related to blockchain.

The parties that took part in program development are a fintech company EMTECH and the Bank of Ghana, the source says. It is also suggested that the same platform will be used to perform tests of Central Bank Digital Currency (CBDC).

Ghana has taken part in several blockchain initiatives over the years. In 2015, the BenBen’s digital land database was established to combine all land registries in the country in one system powered by the blockchain. Moreover, in 2016, a blockchain startup Bitland piloted a land survey and title deeds recording project in 28 communities in the country, as per a press release.

In 2019, mobile provider Vodafone Ghana teamed up with IBM, HackLab Foundation, and Stanbic Bank for a blockchain innovative program to have taken place at a hackathon for university students. And in the same year, a Central Bank executive spoke about the possibility of issuing a CBDC in the future.

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