Grayscale Bitcoin Trust Investors Who Bought in December Are Up Huge
Traders who bought shares of Grayscale's Bitcoin Trust (GBTC) during its lowest point are now seeing significant gains as the discount between GBTC's price and its Bitcoin holdings shrinks. GBTC's shares traded at a 137% higher price compared to December 13, 2021, when it had a 50% discount. Despite Bitcoin's price increase of 48% since then, GBTC has outperformed the cryptocurrency. The possibility of GBTC converting into a spot Bitcoin ETF could eliminate the discount.
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Grayscale Bitcoin Trust Investors Who Bought in December Are Up Huge
Traders who bought shares of Grayscale's Bitcoin Trust (GBTC) during its lowest point are now seeing significant gains as the discount between GBTC's price and its Bitcoin holdings shrinks. GBTC's shares traded at a 137% higher price compared to December 13, 2021, when it had a 50% discount. Despite Bitcoin's price increase of 48% since then, GBTC has outperformed the cryptocurrency. The possibility of GBTC converting into a spot Bitcoin ETF could eliminate the discount.