With Bitcoin’s biggest buyer sidelined, the price of Bitcoin will fall even faster, causing even more GBTC holders to want out, further widening the discount to NAV. If Grayscale wants to close that gap it will have to sell Bitcoin and buy back shares, pushing Bitcoin even lower.

by Peter Schiff
With Bitcoin’s biggest buyer sidelined, the price of Bitcoin will fall even faster, causing even more GBTC holders to want out, further widening the discount to NAV. If Grayscale wants to close that gap it will have to sell Bitcoin and buy back shares, pushing Bitcoin even lower.

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Bitcoin (BTC) $ 27,028.24 0.64%
Ethereum (ETH) $ 1,890.15 0.84%
Litecoin (LTC) $ 95.18 0.46%
Bitcoin Cash (BCH) $ 114.47 0.11%