Barry Silbert, the founder of Grayscale Investments, a digital asset management firm owned by Digital Currency Group, took to Twitter on Sunday to reveal that he’s purchased several altcoins amid the market selloff.
— Barry Silbert (@barrysilbert) November 25, 2018
These additions, apart from Decentraland, aren’t particularly surprising, as Grayscale currently offers investment products for Ethereum Classic, Zcash and Horizen, and Silbert often tweets about these coins.
While each of the altcoins is currently trading at a significant discount relative to all-time highs, some have questioned whether the investment is a smart one. ETC, ZEC, MANA and ZEN are now ranked 15, 17, 59 and 79, respectively, in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.
More: Barry Silbert’s Tweet
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.