The possible chances for the 51% attack is very low. As of now the holdings Grayscale own contributes 2.29% of entire marketcap of bitcoin. With this it looks like Grayscale staking the bitcoins at regular time interval. Satoshi wanted things to be used without large scale accumulation. 2.29% doesn't look like a big accumulation.

They are buying more BTC for future purposes but this will not be correlated to the so-called 51% attack.


Even Grayscale will accumulate more Bitcoin but still, they can't control the market. I can't remember also that Satoshi puts a limit and everyone still free to get more as long as he/she is cap[able of buying it and use for legal purposes. I shouldn't have to hold them either but to let people doing it until the entire 21million BTC will be mined.

As they say now, keep calm and buy Bitcoin
We should all do the same instead of running around in circles and listen to all the noise.

And as others said, 51% attack is ... something else than OP thinks. Like apples and oranges...
Satoshi clearly didn't mention about crypto-fiat markets manipulation since his vision was to use crypto directly for buying ... everything.

Not at all.

that attack doesn't work in this case as explained above. And even them stockpiling almost 3% (506000) of the current supply (18.5M) is kind of a nonissue considering we're talking about an investment company rather than a single or several anonymous whales hodling the coins, now that would be worrisome cuz you'll never know if they're try to crash the market or whatever.

As long as Coinbase Custory ^[1] are keeping the coins safe, it's all good.

1. https://www.globenewswire.com/news-release/2019/08/02/1896358/0/en/Grayscale-Selects-Coinbase-Custody-as-Custodian.html

Nobody knows about the thousands or perhaps millions of bitcoins that were produced in the early days and no one knew anything about them. This monetary mass makes it impossible for one company to control all the currencies in existence.
The 51% attack is done differently from what you saied, as it is an attempt to double-spend coins by giving the user fake confirmations and not by purchasing all the coins.
Grayscale can buy 51% of total supply but that will not change things

As others have mentioned earlier, 51% attack is not possible as they are just merely holding 2.x% of the entire marketcap of btc. Their move is actually very inspiring to other companies because this will give interest or confident to similar companies to invest also in btc. It also manifests that Grayscale has strong stand towards btc investments, which is good for crypto community.

No, this one doesn’t have anything to do with 51% attack. From what I have learnt, 51% attack is something that has to do with miners, when there is a particular group of miners having more control in mining of Bitcoin, they will be able to carry out an attack on the network.

But, that is not to say that too much of HODL like Grayscale is doing right now does not have any effect on the network, it does too. Bitcoin is limited and should be used mainly for transactions, there should be many of them circulating and not just put into savings and locked away. So it can also affect the Bitcoin network in a way, although I can’t explain it.

Nah, 51% attack is different and shouldn't be equate to GrayScale having huge amount of BTC. I advise you to read the following threads to have a clearer picture of what a 51% attack is:

(a) How exactly would a 51% attack work?

(b) 51% Attack

(c) Bitcoin 51% Attack - Protocol solutions?

Grayscale is a custodian for clients that are institutions and serious investors. It acts something like an exchange outside of the crypto world offering shares of Trusts and these shares are later traded by these investors if they want to in OTC exchange where trillions are traded.
Any amount of BTC stockpilled does not make a difference to the network. The worst that can happen is Grayscale to get hacked somehow and the wallets to be compromised but I'm sure there would only be cold wallets so it will have to be an inside job. Meaning there probably won't be any chance of these Bitcoins to be lost or stolen. So a repeat of MtGox or any other danger has close to 0% chance as I see that there would be complete security.

I would be interested to know if there is another danger for this operation, except that the investors don't actually own the Bitcoins but a represantation of them in stock form.

Yeah, at least Grayscale is a public company but we never know other whales intentions and how many bitcoins they accumulate.