Part 5/16:
Interestingly, Grayscale’s Bitcoin Trust (GBTC) discount has narrowed slightly—down from a high of over 36%, now at around 35%. While not a dramatic shift, this hints at increasing investor confidence, perhaps bolstered by public endorsements and regulatory signals. The broader narrative hints that more regulation may lead to more capital inflows: a cycle of compliance, investor safety, and ultimately, higher valuations.