US Global Investors, a Texas-based company with $ 4.6 billion in assets, has just revealed it has invested in the Grayscale Bitcoin Trust (GBTC), according to the filing with the US Securities and Exchange Commission.
As of June 30, 2021, the gold and precious metals company held $566,389 in GBTC through three funds: Gold and Precious Metals Fund ($302,899), World Precious Minerals Fund ($222,532), Global Resources Fund ($40,958).
The share of GBTC in the total assets of the funds is around 0.19%.
Peter Schiff, who is a gold advocate and crypto skeptic, has noted the US Global Investors CEO Frank Holmes is the CEO of mining company HIVE Blockchain.
Schiff has recently won a debate over the superiority of gold over Bitcoin claiming that it is pointless to compare the two assets, since the cryptocurrency “does not have the qualities that give gold value.”