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Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: trendcoin on September 26, 2022, 07:53:22 PM

Title: Grayscale Bitcoin Trust (GBTC) -35% discount — A warning for BTC price?
Post by: trendcoin on September 26, 2022, 07:53:22 PM

Grayscale Bitcoin Trust (GBTC), a cryptocurrency fund that currently holds 3.12% of the total Bitcoin (BTC) supply, or over 640,000 BTC, is trading at a record discount compared to the value of its underlying assets.

Institutional interest in Grayscale dries up
On Sept. 23, the $12.55 billion closed-end trust was trading at a 35.18% discount, according to the latest data.

(https://s3.cointelegraph.com/uploads/2022-09/197b929c-6a0a-4824-858b-616515d27b80.png)

Source (https://cointelegraph.com/news/the-biggest-bitcoin-fund-just-hit-a-record-35-discount-a-warning-for-btc-price)

Title: Re: Grayscale Bitcoin Trust (GBTC) -35% discount — A warning for BTC price?
Post by: TomPluz on September 28, 2022, 05:40:26 AM

We are in the bear market so I guess this is something that is naturally coming. The question in my mind is how long Grayscale Bitcoin Trust can hold on to their BTC until they decided that it is already beyond their means continuing the business. Anyway, am hoping they will be here and wait for the bears to come in. This is one outfit that has certain high amount of influence in the BTC market and the direction it is taking is always watched by the market.