As posted here on TV we covered a few months ago but all buyers of this fund should be aware of the massive "premium" that this fund can generate - as much as 80% a year ago which we warned of back then. GBTC is a safe easy way to buy BTC but it can also be a trap if you are the one paying that premium - a drop in BTC produces a massive drop in this name. Just last year this name went from $20 when Tom Lee and all the "experts" were pounding the table ( as they are now ) on BTC to UNDER $4 - retail buyers took a major hit on this name - buyer beware.We have no position in this name but will be looking to get very long at much lower prices if it gets there. If we miss it then we miss it - there are 8,000 other names we can buy at our price. #Patience #Stocks #Crypto #Fintech #Bitcoin
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Recent longs in this name will go into shock this week and long term as they see their money fly out the window.
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The collapse in this name from these levels should be right around the corner from here. We'll see.
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Here comes that Premium deflating as we posted to watch out for just a few days ago.
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Down 7% See you at 0.40c eventually just as we said
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Down 10% today did you read the title a few days ago when we posted this?