Why have you not mentioned the "Premium" on GBTC which from a year ago was as high as 80% and exactly where the smart money sold to retail ans stuck it to every single one of them because everyone was pounding the table that the "Institutions were loading up on GBTC" - You could be correct that the "institutions" are loading up on GBTC and yes it is an easy safe way to buy BTC but you make no mention of the underlying asset of the fund or as mentioned the massive previous premium that all retail traders should be aware of - if BTC takes another major dive then this "premium" will deflte again in a major way and GBTC will see $1 if it's even stops there. You will never see a "price alignment" with BTC as you have mentioned here - the fund isn't built that way. That said this is an interesting post. Thank you for posting it. @dRends35
UNWOUND
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@london55555, Good point.
micmuc
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Even institutions that see the long-term potential may still have a great interest in first moving price south as far as possible. Because even if Bitcoin ever moves to 100k, there is a huge difference in return between now investing 900 million at 1BTC=5000 vs 1BTC=2000.
The main question is if there's enough will and monetary power to move things down. Either way the last big chance to do so seems somewhat near.
WBM_Team
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@micmuc, we dont expect major moves down. Some corrections yes. They had 15 months to dump it stronger.
From now bull rally has slowly started.