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It's a lot worse than that: You pay 10-20% premium on GBTC to the spot price of bitcoin. On the long run, the GBTC and spot prices should be the same. So yes,
by csomar 6y ago
It's a lot worse than that: You pay 10-20% premium on GBTC to the spot price of bitcoin. On the long run, the GBTC and spot prices should be the same.
So yes, you are getting a bad deal. However, some investors are not comfortable holding balances in Coinbase or some other exchange; and probably do not think about holding bitcoin in a wallet.
- ArtTimeInvestor 6y agoAmazing. So by buying real Bitcoin, you instantly have big advantage over investors in GBTC. Is this the spread we are talking about? https://ycharts.com/companies/GBTC/discount_or_premium_to_nav https://ycharts.com/companies/GBTC/discount_or_premium_to_na... Looks like it is down to 4% at the moment?
- csomar 6y agoGreat chart! Yes, looks like the premium was down these days (last few weeks it was insane)