The Rothschild Investment Corporation (RIC), which represents the Rothschild family, has entered the Bitcoin market via a purchase with Grayscale’s GBTC. The RIC has around $1.4 billion in assets, and the value of its Bitcoin purchase is around $235,000. This recent investment isn't the first time that the family has made an investment in blockchain-based assets. Back in 2018 the family first entered the marketplace.
At the time Vitalik Buterin posed the question,
“Are ‘the Rothschilds’ actually remotely as powerful and coordinated as the conspiracy theorists seem to believe, or are they just a group of old-money socialites and all that other stuff is overhyped?”
Why it matters: Regardless the power that the Rothschild family may have, it joins a number of other high profile investors and companies who have made Bitcoin purchases recently. Like many of the established investors who are entering the market, the RIC chose to buy Bitcoin via an intermediary, meaning the company doesn't own the private keys to their Bitcoin investment. The same thing was true in the gold markets until this year, when major investors began to demand that they take possession of physical gold, and not cash settled derivatives. This may also happen in the Bitcoin market, as investors better understand the nature of token ownership.
Check our guide of the most promising crypto