Grayscale Bitcoin Trust Trading at 40% Premium; ‘Big Money Coming In’

0 80

The Grayscale Bitcoin Trust (GBTC) is trading at a serious premium, which works out to a Bitcoin price of almost $15,000 – indicating that further gains are imminent. 

‘Big Money Coming In’ Via GBTC

Data from Grayscale’s recent performance placed it trading at $14.64 as of June 24. At these levels, investors are working with a Bitcoin price of $14,640. 

The premium, which amounts to around 30 percent, is not new but has increased significantly as Bitcoin cements its position in the latest three-month-long bull run. 

At one point, GBTC traded above $15 at a 40 percent premium, leading to suggestions that substantial upward market moves were still on the horizon.

“Big money coming in!” one popular online trader summarized on Monday linking to the data.

You might also like
WhatsApp chat