This is a basic example of the decay in GBTC vs Bitcoin and why you should never hold ANY Grayscale crypto products in your portfolio *long term*.
GBTC is the Bitcoin investment trust that Grayscale offers to get exposure to Bitcoin.
Based on Friday's close of 27.68, it's trading as if BTC is around $16,700 per coin - half its value. Keep this in mind if you ever consider adding this to your long term holdings.
If you want to own the real thing, own the real thing. If you're a trader, you're better off opening a futures account and trading the micro futures that represent .10 BTC (MBT).
Grayscale products should be treated as short - medium term.
All the best.
GBTC is the Bitcoin investment trust that Grayscale offers to get exposure to Bitcoin.
Based on Friday's close of 27.68, it's trading as if BTC is around $16,700 per coin - half its value. Keep this in mind if you ever consider adding this to your long term holdings.
If you want to own the real thing, own the real thing. If you're a trader, you're better off opening a futures account and trading the micro futures that represent .10 BTC (MBT).
Grayscale products should be treated as short - medium term.
All the best.