Greyscale Bitcoin Trust trades above spot for a premium...
And it looks like that premium may be going away early next year if it follows the pattern of this year and years past!!!
The chart above shows GBTC premium plunging in January
3% of GBTC consists of retirement funds.
3% is not much, however if investors take this stimulus IRA holiday then they will have the option to sell GBTC at a premium, & buy back their real BTC while pocketing the huge premium. If bitcoin sustains any profit taking early on next year you can be sure to see a GBTC long squeeze created. Also possibly this crash may be accelerated by baby boomers cashing out the ira early??? 😳 😱
Check out the premium chart for the year below for GBTC!
Another reason for Greyscale’s selloff may be due to it’s XRP exposure!
The Greyscale XRP fund is a toxic liability now and could be big trouble down the line for this centralized company. Greyscale could now get sued.
If it’s not your key it’s not your bitcoin.
So if you have GBTC in your IRA and get a chance to swap it for real btc, I highly advise you take that option now sooner than later.
Bitcoin up and GBTC down?
Will this be the new trend, unfortunately for GBTC I think so for the short run.
All Greyscale can do now is follow Bitwise’s footsteps, and liquidate their XRP trust ASAP, or Greyscale will continue hemorrhaging investors!
GBTC in free-fall since the XRP news broke!
@coininstant,
Have no idea about this GBTC thing before! Thanks for sharing this info!
Cheers~
Amazing idea of the information posting dear sir
Great opportunity that time for buying
Excellent posting
Always appreciate your posting sir
I am also buying it 😭
I don’t think there is a future, we have to sell while there is an opportunity
I didn’t know about the Greyscale BTC Trust I had heard Greyscale was buying up a bunch of Bitcoin but didn’t really know much about them. But if Bitwise is dumping XRP and Greyscale isn’t Bitwise sounds safer for now.
Yeah that's what I was thinking too, just from a safety perspective. Thanks!! 🙏 🚀
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Oh good reminder, i do have some LEO, then I will have to give it a shot! Thanks again!!
Amazing information
Very dicey time indeed! Thanks for sharing! Bitcoin is moving up and up!
Oh it is, i know u will love my latest post on the matter! lol 😂
Yep! You are very psychic!! LoL
Now you could tell me when to get some bitcoin! Just got some money! LoL
thank you very much for the information, have a great trade
Awesome
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Thank you very much for the information of the crypto market,have a great day and a great mood