ICYMI: both retail and institutional customers are able to pay only 73 cents for $1 worth of Bitcoin, but it's not that simple BTC $BTC
for 73 cents on the dollar? If institutions really are buying Bitcoin, why are those already invested in GBTC so desperate to get out and why don't other institutions want to buy at a discount?Such disbalance is caused by the negative premium rate that suggests GBTC's reported accounting NAV is trading at a discount to the exchange-traded value of the fund.
While you will not be able to find GBTC on widespread markets like the NYSE, it is still available for OTC trading on various platforms.But Schiff's assumption about the low demand for Bitcoin due to the absence of buying interest might not be that accurate, as the community under the economist's Twitter post suggested.
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