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Gbtc discount = mooning soon

Biggest Bitcoin Fund, Grayscale $GBTC, is trading at a discount for only the 3rd time ever, and its largest.

Such a discount, after a long time with a premium, is a contrarian buy signal. The last two discounts saw a 2x and 4X rally over the next few months.

History to repeat?

https://mobile.twitter.com/biancoresearch/status/1365714740157284357



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7 Comments

  1. Not sure why everyone is hating on you. It’s a big deal that it’s at a discount and it won’t last long. Lots of retail and institutional traders must get exposure to assets via various means. GBTC is a good one, especially if trading at a discount.

    I think grayscale would be better off with a separate Etf when that’s possible, because having a trust serves a useful purpose when it’s not a monopoly. It’ll arbitrage down to two to 5 percent premium and allow for occasional discounted buying arbitrage opportunities even for a retail investor.

  2. No sure history is going to repeat this time. Reason being, GBTC is trading at a discount in response to the newly minted Canadian Bitcoin ETF’s, and in anticipation of an upcoming U.S. Bitcoin ETF. It knows its days of getting ridiculous premiums are over.

  3. Thursday and Friday were both solid buy days for $GBTC and $ETHE both trading at discounts to NAV. I do believe the days of crazy premiums will be over soon but still seeing examples of 200% to 1000+%. Usually for stocks with less available crypto assets than Bitcoin like $BITW and $GBCH

  4. Same thing is going on with QBTC, closed end BTC fund in Canada. Went 10% discount for 7 trading days now.

    I thought it would fix soon but it’s not. Fund manager annouced some unit buy backs but might take weeks if not months to fix the discount.

    Lots of pissed QBTC owners right now.

    And yeah, people like BTC funds because you can store them in tax free accounts in countries that allows that.

  5. Dont get me wrong, im extremely bullish on BTC, and holding heaps. But GBTC being at a discount i believe is more because of the new bitcoin ETF. GBTC charges a ton of management fee and with the new ETF theres pretty much 0 reason to choose closed end funds. 100% of my friends who had GBTC as a crypto keeping method sold eventually over the last few days and put everything it in the new ETF.

  6. WHAT idiot would trade bitcoin to an etf.

    unless of course I can trade options in it to gamble with.

    basically the bitcoin etfs are for gambling not holding

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