Digital Currency Group Will Purchase Shares From ETC Fund

Digital Currency Group aims to buy $50 million of shares in Grayscale's Ethereum Classic fund.

Digital Currency Group will purchase shares from ETC fund. The venture capital and digital money investment company, Digital Currency Group (DCG), founded and CEO by Barry Silbert, who draws attention with his evaluations on cryptocurrencies, has stated that it aims to buy 50 million dollars worth of shares from a subsidiary of Grayscale's Ethereum Classic (ETC) fund. In the statement made by DCG, it was noted that the acquisition will be made with the company's cash reserves and this can be done in any amount at any time, with the company having the right to change it later. In the statement, it was also stated that many factors such as price, market situation and the company's cash level will be taken into account during the period when the company will make a purchase.

He Criticized Dogecoin In A Strong Way

Silbert, the CEO of DCG, which plans to purchase 50 million dollars of shares, stated that 99 percent of cryptocurrencies are overpriced a few days ago. Silbert had spoken harshly about DOGE in the past few weeks and faced a harsh backlash from the cryptocurrency community. Grayscale, owned by DCG, has a value of approximately 35 billion dollars. By this value, it is known as the largest cryptocurrency asset management company in the world.