GBTC Trades 60% Over Current Bitcoin Price
GBTC, the Bitcoin linked traditional security is currently being traded at 60 percent over the actual bitcoin price on OTC Markets, showing the demand for digital currency linked shares. The Bitcoin community across the world is currently witnessing the rise of Bitcoin for the second consecutive week now. Bitcoin price has increased by from somewhere around $450 per bitcoin to close to $600 per bitcoin in the past two weeks. The upward movement of bitcoin value has increased confidence on the digital asset among investors. The increased confidence is not only visible in the trade volumes....
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The increasing GBTC price comes on the heels of another bullish Bitcoin trend. The Bitcoin Investment Trust is benefiting from the recent BTC price surge. Now that the publicly traded offering surpassed the US$200m market cap, things are looking very promising for GBTC. This news seems to indicate mainstream traders are flocking to GBTC over the past week. Publicly traded stocks have seen their fair share of problems during 2016. Traditional stocks have seen a lot of losses and small gains over time, resulting in a barely positive balance. But GBTC has successfully bucked this trend, as....
Grayscale Bitcoin Trust's premium is now above 30% as institutional demand for BTC continues to increase. The demand for the Grayscale Bitcoin Trust (GBTC) continues to rise with its premium surpassing 30% on Dec. 3. This indicates that Bitcoin (BTC) is seeing increasing institutional demand as its price consolidates above $19,000.The Grayscale Bitcoin Trust is an institutional vehicle that is tradable in the United States through OTC markets. Accredited and institutional investors typically use the trust to obtain exposure to BTC with their brokerage accounts.Why is the Grayscale Bitcoin....
GBTC will "take time" to restore its balance thanks to changing market forces, analyst Willy Woo says. Bitcoin (BTC) investment vehicle the Grayscale Bitcoin Trust (GBTC) is trading at its biggest discount since the May BTC price crash.Data on Aug. 19 confirms that as BTC/USD trades near $44,000, GBTC shares are over 16.5% below spot price.Analyst: Grayscale comeback "will take time"Grayscale, which has $42 billion in assets under management across its various cryptocurrency funds, has seen institutional interest endure throughout the recent Bitcoin price dip.Despite some conspicuous....
GBTC premium stays negative for over three months as its holdings decline gradually, while BTC price struggles around the $37,000 mark. Bitcoin (BTC) is facing difficulty breaching the $40,000 mark again after briefly crossing it on May 26. The cryptocurrency is currently exchanging hands at around the $36,000 mark, which is a 44% drop from its all-time high of $64,889 on April 14. Among others, a key difference between macroeconomic conditions affecting the cryptocurrency market as a whole is institutional demand.One of the key investment vehicles for set demand is the Grayscale Bitcoin....
There's no doubting the BTC price upside, but under the hood, all is not what it seems, one analyst highlights. Bitcoin (BTC) is getting compared to late 2020, but this rally in fact has several major differences which make it “not normal.”According to Pete Humiston, manager of Kraken Intelligence Research, Bitcoin in Q3 2021 is a different beast when compared to Q4 2020.GBTC keeps its steep discountDespite going from $29,000 to $48,000 in just one month, Bitcoin is still not seeing a frenzy of interest and buying. Higher price levels have seen solid support, but there is little evidence....