GBTC

GBTC Makes Massive Move Thanks to Crypto Bull Market

in Banking/bitcoin exchange/bitcoin latest news/Bitcoin News/bitcoin news feed/bitcoin news latest/bitcoin news today/bitcoin news updates/bitcoin price/bitcoin price news/bitcoin prices/bitcoin stock/breaking news/cryptocurrency/current news/editorial/GBTC/news/prconnect/recent news by

The GBTC (Grayscale Bitcoin Trust) has made a massive move this year with a gain of 250% and outperformed all other assets classes.

Over the past few years, Bitcoin has become one of the most intriguing investment opportunities for thousands of people across the world, and it is only natural, considering the sort of highs the cryptocurrency has reached in recent years. However, as everyone knows, Bitcoin and cryptocurrencies at large can be extremely volatile in nature, which is why even interested investors sometimes stay away from it.

That being said, it is now possible for investors who want to be exposed to Bitcoin to own a stock that could benefit them anytime BTC price climbs. The stock in question is that of the Grayscale Bitcoin Trust (GBTC), which is involved in both owning and tracking Bitcoin.

Key Analysis

In this regard, it is important to note that the price of GBTC is not directly dependent upon the market rate of Bitcoin but on the outlook of investors about the cryptocurrency. As one can realize, this is a relatively easier way for investors to be exposed to the Bitcoin space–and it’s an exciting time to be getting into crypto as there has been a significantly strong BTC bull run this year. So, if anyone is willing to buy this stock, then this is perhaps the time to get their hands on the Grayscale Bitcoin Trust. In a new development, it has emerged that the company has resumed the private placement of its shares again and the update was announced by way of a press release on July 8.

>> China’s Cryptocurrency: A Response to Facebook’s Libra Coin?

The private placement is done by the company, and only accredited investors are allowed to purchase those shares. More importantly, the announcement also stated the value of each share in GBTC is worth 0.00097876 Bitcoin, and at this point in time, the total value of the assets held by the company stands at $2.66 billion. Its assets have increased significantly over the past few months. An executive stated that an investment in Bitcoin is an excellent hedge against the growing uncertainties in the global economy.

GBTC has soared all the way from $4.50 to $16 since the beginning of 2019.

Featured image: DepositPhotos © iqoncept

Crypto News Desk

GIVE US 32 MINUTES AND YOU'LL BE INFORMED


Email address
Secure and Spam free...

If You Liked This Article Click To Share

!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.