Yugocean
Valued Contributor
"Grayscale," a bitcoin holding and spot EFT company, has launched its bitcoin EFT. Grayscale Bitcoin Trust ($GBTC) is trading below $10K, which is more than 40% below its net asset value (NAV).
Since the actual cash payments are being made using Grayscale in the form of $GBTC, some experts like Peter Schiff attribute this value to the actual value of bitcoin. However, this also brings a problem for crypto enthusiasts, because they cannot use any other cryptocurrency (not even stablecoin) to buy GBTC.
Grayscale can also be considered the biggest Bitcoin hodler, but in the recent situation when proof-of-reserve is being talked about, Grayscale has refused to provide proof of its reserve.
Since Genesis went into financial loss, its sister companies are also under pressure. The present status of Garyscale confirms it. People are advised not to invest in GBTC. Now one will only know when they withdraw from GBTC.
To know more about Grayscale -
Ex Solicitor General to help Grayscale for ETF against SEC
Grayscale Bitcoin ETF issue lawsuit.
Since the actual cash payments are being made using Grayscale in the form of $GBTC, some experts like Peter Schiff attribute this value to the actual value of bitcoin. However, this also brings a problem for crypto enthusiasts, because they cannot use any other cryptocurrency (not even stablecoin) to buy GBTC.
Grayscale can also be considered the biggest Bitcoin hodler, but in the recent situation when proof-of-reserve is being talked about, Grayscale has refused to provide proof of its reserve.
Since Genesis went into financial loss, its sister companies are also under pressure. The present status of Garyscale confirms it. People are advised not to invest in GBTC. Now one will only know when they withdraw from GBTC.
To know more about Grayscale -
Ex Solicitor General to help Grayscale for ETF against SEC
Grayscale Bitcoin ETF issue lawsuit.
