- The last Grayscale Bitcoin Trust unlocking was completed on Wednesday.
- The FUD contributed to the major price fall of Bitcoin in June.
- The last and the most recent unlocking involved 58 Bitcoins.
The Grayscale Bitcoin Trust stocks have been a part of the investment portfolio for many institutions, and this year was no different. But, this year’s Grayscale Bitcoin Trust unlocking brought a lot of market FUD with it. The terms “fear, uncertainty, and doubt” were resonating in the minds of all the crypto investors who had invested in Bitcoin.
On June 18th, the biggest Grayscale Bitcoin Trust unlocking occurred, wherein about 16,240 Bitcoins were unlocked. Many investors feared that Bitcoin would go down to $15k. As a result, in a huge sell-off, Bitcoin fell down from 40k USD to 30k USD. A lot of investors made their price predictions based on this unlocking event.
Grayscale Bitcoin Trust unlocking ends
On Wednesday, the last unlocking happened, which ended this month-long FUD involved with the price of Bitcoin. A period of panic selling was followed before and after June 18th due to the biggest unlocking event. It was a fact that the huge selling pressure that was expected to be created as a result of this unlocking actually never occurred as investors held on to their BTC.
The last Grayscale Bitcoin Trust event unlocked 58 Bitcoins. It was a fact that there was no near to fear the unlocking as Grayscale itself does not allow clients to cash in shares for Bitcoin.
Remember when all the traditional analysts said the Grayscale unlock would unleash billions in selling this last week? Yeah, no
It was reported that the Grayscale Bitcoin Trust shares are being sold at a discount of over 16.5 percent. As many investors are looking to invest in the price of Bitcoin without actually having to experience the volatility of the market, GBTC shares demand is gradually rising.
For today, the GBTC share price is actually 13.3 percent chapter than it was back in the month of May when the price of Bitcoin was at its highest.