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It says this fund is still traded at unofficial exchanges at prices a number of times higher than the value of the bitcoin it holds. The multiple layers of spec
by nwah1 9y ago
It says this fund is still traded at unofficial exchanges at prices a number of times higher than the value of the bitcoin it holds. The multiple layers of speculative mania involved in that boggles the mind.
- ringaroundthetx 9y agoIt trades on the OTC Bulletin Boards since 2014 or so, and is prime for getting easy exposure with IRA accounts simply because it can be accessed through normal brokerages. Hasn't exactly been a bad bet for those people.
- clarkmoody 9y agoDifferent prices at different trading venues speaks to the difficulty of moving funds quickly between them. When those hurdles are overcome, such a glaring arbitrage opportunity will disappear. Would you consider it "speculative mania" if GBTC traded at a steep discount to all other exchanges?
- jayd16 9y agoYou're probably correct, but... >Would you consider it "speculative mania" if GBTC traded at a steep discount to all other exchanges? This is as shallow an argument as "If Jimmy broke his leg getting hit by a car, would you say I got hit by a car if I broke my leg?" If you were also playing in traffic, then yeah.