Bitcoin Investment Trust is a “Dumb Investment” Despite Profit Growth
The fine people over at Seeking Alpha posted some interesting counter arguments as to why people should not invest in Bitcoin Investment Fund. Even though they openly admit they do not like Bitcoin or digital currency, as it will ultimately fail as a currency due to inherent flaws. Calling bitcoins the “Dumb Investment of the Week” seems to be a sign of shortsightedness, but that is a topic of debate for a different time. Whenever a company in the Bitcoin space reaches a significant milestone of investment, there are those who oppose the entire idea of using digital currency in the first....
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A new Bitcoin ETF called SolidX Bitcoin Trust has filed its S-1, an SEC filing used by establishments to register public securities, to challenge the Winklevoss Bitcoin Trust. Since the launch of Grayscale Investment’s Bitcoin Investment Trust in 2015, publicly tradable Bitcoin shares and Bitcoin ETFs have become increasingly popular amongst conventional investors across the world. However, GBTC and other forms of public Bitcoin investment tools have been criticized for their unproportionally high premium rates, that often displayed a range of 10% to 70% in rate difference compared to the....
Following the recent spike in bitcoin trading volume and price, shares of Grayscale Investment’s Bitcoin Investment Trust (BIT) surged to US$32 per share, marking a 10.92% increase over the past few days as well as an almost ten times increase in volume. BIT, the publicly tradable shares of bitcoin operating under the ticker GBTC, was launched back in March and represents approximately one tenth of a bitcoin. As of today, bitcoins in the Bitcoin Investment Trust are being sold at US$320 per BTC. Currently, bitcoins are being traded at US$330 per bitcoin across international exchanges....
A new Bitcoin ETF provider has entered the competition alongside Winklevoss Bitcoin Trust and SolidX. Grayscale Investments, the child company of Barry Silbert’s Digital Currency Group, filed an S-1 registration statement with the Securities and Exchange Commission (SEC) to list its Bitcoin Investment Trust on the New York Stock Exchange. Since 2013, Grayscale Investment’s Bitcoin Investment Trust has been providing a unique method for investors and traders to purchase Bitcoin in a more regulated ecosystem by selling the shares of Bitcoin Investment Trust, hereinafter GBTC, on a public....
The volatility of the bitcoin price has resulted around 50% loss for high profile and established investors and traders who purchased the shares of publicly traded bitcoin exchange-traded fund (ETF) like Grayscale Investment’s Bitcoin Investment Trust. However, due to the underwhelming performance of stock markets and equities and the rising trend of bitcoin price, an increasing number of investors are beginning to recognize bitcoin as a viable retirement portfolio asset. Over the last few days, the value of public equities and precious metals including gold have plummeted, with market....
Amid the stock market turbulence experienced throughout last week, the Winklevoss Bitcoin Exchange has fared very well. The Bitcoin Investment Trust Sees Smooth Sailing. The Bitcoin Investment Trust offers the first publicly quoted securities which derive value from the Bitcoin price. BIT is publicly quoted on the OTCQX®. GBTC is sponsored by Grayscale Investments, which believes “digital currencies are poised to radically transform our financial system.” The firm wishes to offer investors “an established, trusted and accountable partner that can help them navigate the gray areas of....