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Bitcoin Investment Trust (GBTC)

Other OTC - Other OTC Delayed price. Currency in USD
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19.67+1.12 (+6.04%)
As of 01:56PM EDT. Market open.
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  • W
    William ₿
    Grayscale met privately with the Securities and Exchange Commission last week in an effort to persuade the regulator to approve the conversion of its flagship fund into an ETF. Turning the Grayscale Bitcoin Trust into a NYSE-traded ETF would broaden access to bitcoin and enhance protections while unlocking up to $8 billion in value for investors, according to a 24-page presentation. The deadline for the SEC to approve or reject Grayscale’s application is July 6. Grayscale contended that a spot bitcoin ETF is “no riskier” than futures-based ETFs, because the two markets are both affected by the underlying price of bitcoin and track each other closely.

    The firm also took pains to outline its increasing disclosures tied to GBTC and its network of partners, including BNY Mellon and Coinbase, who are ready to help its conversion process.
  • J
    Jim
    If this is the lead up to a major crash then this sector seems as ripe for severe price discovery as any other.

    Then see how many stablecoins continue to exist, and that loss of trust has already shown how easily it can take down the rest of the sector.

    The systemic and counterparty risk which has built up in these digital tokens is substantial. Reminds me of how the dot-bombs and housing proved to be tied into everything, so the contagion was not contained, no matter what assurances were given along the way.

    Really not trying to spread doom or FUD, and see it as a potential for extreme entry points, and certainly trading this recent low, already taking profits.

    I mention all this because the entire market appears on the edge of something epic. This sector just happens to carry more risk than others, as it has no central bank trying to keep it liquid and is still barely regulated.

    Even if the market avoids extreme price dislocation, in the 2018 reset, the digital assets lost about 50% once they broke below support.
  • W
    William ₿
    "It took clarity and conviction to set up GBTC, and now Grayscale is demonstrating courage and commitment in their campaign to convert GBTC into a Spot #Bitcoin ETF. They deserve your support. If you agree please let the SECGov know." --Michael Saylor
  • S
    Stonks_Comps_Matter_Again
    I didn't know Walmart and Target were risky tech stocks. Welcome to pound town boyz. Who's the next stop on the liquidation grand tour?
  • w
    weidenbenner
    I am so tired of GBTC doing nothing all day. Can you move??? I have been reading (http://Achieverspot.tech) for a month now and the stocks there actually go!
  • W
    William ₿
    The Nasdaq has been destroyed. People who simply look at the VIX are NOT seeing the capitulation, IMHO. However, this is part of the problem because buyers who want to buy are still timid, and maybe for good reason. The indicators of capitulation are there, and shorts could easily get caught flat-footed if they haven't started covering. But buyers want clear capitulation, and the atmosphere really hasn't changed to give them confidence either. War (that could escalate to weapons of mass destruction), inflation (that could get worse due to energy prices, wheat shortages, and supply constraints), rate increases by the FED (that could hurt future profits) are ALL STILL THERE. If we get a slow decline over the next several months, recession becomes in the cards. The market is ugly right now. Greed and fear drive most everyone's decisions, so at some point a relief rally is going to shake up things in the near term. Prices look extremely attractive from where they once were, though there are a number of companies that deserve the huge decline as the pandemic hysteria fades.
  • W
    WhatsNewToday
    Crypto ecosystems are counterfeit money Ponzi schemes which have no place in 401k retirement savings accounts, Fidelity Investments needs to cancel such notions.
  • V
    VP
    The more news on GBTC getting close to ETF conversion the greater the discount, and now it is over 30%. Can anyone make sense out of this?
  • W
    William ₿
    The market is very oversold. We are in the beginning of a large bounce, but whether it is sustainable is questionable short term. If you are a long term investor, it is clearly time to start averaging in again IMHO.
  • W
    William ₿
    Someone is buying all of those GBTC shares and Bitcoin that are being sold on the cheap. I've decided to start back buying the GBTC DISCOUNT.
  • P
    Phillip
    I have never been so happy to see a market closing bell. I lost 2 years of living expenses today.
  • S
    Stonks_Comps_Matter_Again
    Who's left to buy black rock's shorts? Melvin bit the bullet. They shorted the wrong year.
  • W
    William ₿
    Anyone second guessing keeping any crypto on Coinbase or in a Coinbase wallet with Coinbase getting absolutely CRUSHED???
  • O
    Owen
    Bitcoin is back in Breakdown.....
    Exit Number is $29, 533.22.

    No Copy and Paste!
  • W
    William ₿
    Pain over paper losses is really pain over wishing one could have accumulated more nearer to the bottom. I have zero plans of selling in the next 10 years, so I haven't lost a single dollar, but I have missed out on gaining more Bitcoin for the future. It is what it is. But in the long term, I will be fine. I'm convinced of that.
  • B
    B
    Good healthy wash out here. Long and strong.
  • O
    Owen
    GBTC's Attempt to exit Breakdown Failed Today.
  • W
    William ₿
    Instead of selling Bitcoin to raise money, firms like Marathon Digital Holdings Inc. are selling Bitcoin call options to wring money out of their holdings, turning to a yield-generating strategy deployed throughout conventional finance.“Bitcoin miners are some of the most voracious yield seekers in the market today,” said Joshua Lim, Genesis Global Trading, which offers options overwriting strategies. “When Bitcoin is in a range-bound market, this type of yield-generating strategy will outperform a mine-and-hold or mine-and-liquidate strategy,” Lim said. “However, in an upward trending market, miners will give up any upside performance beyond the strike of the calls they are selling.”
  • W
    WreckDiver
    Everyone who has taken a new Bitcoin position in the last 18 months is now losing money.
  • R
    Ryan
    As long as there's a NAV discount, these guys should be selling off BTC and paying monthly dividends with the proceeds. Stop the battle with the SEC, it's not going to work. Look at Luna, the crypto market is a joke right now.