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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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'Pay attention' — Grayscale adds 18x the Bitcoin mined supply in one day

Bitcoin worth $600 million gets taken off the market as BTC/USD struggles to cement support for a retest of $40,000.

Asset manager Grayscale added 18 times more Bitcoin (BTC) than miners added to the supply in just one day on Jan. 18.

As various data sources confirm, Grayscale, which remains the biggest institutional buyer in the Bitcoin space, purchased a total of 16,244 BTC ($607 million) on Monday.

BTC buys accelerate again

The giant sums are some of the biggest on record and are an order of magnitude above what even Grayscale was attempting just last week. The company previously saw daily buys but stopped over the holiday period and reduced its allocations in the first week of the new year.

Monday’s activities bring its total assets under management (AUM) to almost $23 billion. As Cointelegraph reported, the total increased tenfold during 2020.

“Grayscale were buying $251 M of #Bitcoin on avg per week in Q4 2020,” Danny Scott, CEO of United Kingdom-based cryptocurrency exchange CoinCorner, tweeted.

“Last week they did $700 M in 1 day... And today $590 M... Pay attention.”
Grayscale daily Bitcoin additions chart. Source: GBTC Bitcoin Tracker/ Twitter

Unashamedly bullish on Bitcoin

The move underscores both Grayscale’s continued faith in Bitcoin as a long-term play and that of institutions choosing Bitcoin over any other form of macro asset.

Despite mixed messages from fellow asset manager Guggenheim, set to begin its BTC exposure this month, industry sources state that public announcements hide the true extent of institutional involvement.

“There is huge institutional demand and most of it is silent,” Gemini exchange co-founder Tyler Winklevoss said last week while berating gold bug Peter Schiff for claiming that players were actually not interested in Bitcoin.

Grayscale Bitcoin holdings vs. BTC/USD chart. Source: CryptoQuant

Data from on-chain analytics resource CryptoQuant meanwhile reveals changes in Grayscale’s buying habits, with late 2020 seeing the largest short-term increase in BTC holdings for the year.

Earlier, analysts at JPMorgan argued that inflows into the Grayscale Bitcoin Trust would need to maintain $100 million per day in order for Bitcoin to have a chance at reclaiming $40,000 price levels.

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