Here's Why Grayscale Bitcoin Trust Is Rising Today The ...
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In the last 100 days, the number of Bitcoins in the Grayscale Bitcoin Trust (GBTC) has increased by more than 78000. These coins are locked for 6 months too.
I had made a similar thread 100 days ago. The following is a simple table showing the number of bitcoins in the GBTC as seen on its page here on the given days.
Date
Number of btc in GBTC
31 Dec 2017
170,000
31 Dec 2018
204,390
26 July 2019
239,513
26 Oct 2019
257798
7 Feb 2020
283,192
27 Apr 2020
312886
1 May 2020
323262
17 May 2020 (100 days ago)
343954
3 July 2020
386658
27 Aug 2020 (latest today)
422308
Number of bitcoins acquired in last ~100 days: 422308 - 343954= 78354 The rate of acquiring bitcoin in gbtc had accelerated after the start of April 2020, as you can see above in the table. At the rate of about 800 bitcoins per day that GBTC has bought every day for last 100 days, the GBTC is buying Bitcoins equal to about 85% ( 783/900) of all supply of newly minted Bitcoin. And GBTC is just one of the many ETF's that people who don't want to fiddle with private keys etc, can use to acquire Bitcoin, albeit the largest one. In this period, the MNC Microstrategy has bought a further 22k Bitcoin.
In the last 100 days, the number of Bitcoins in the Grayscale Bitcoin Trust (GBTC) has increased by more than 60000. These coins are locked for 6 months too.
I had made a similar thread 100 days ago. The following is a simple table showing the number of bitcoins in the GBTC as seen on its page here on the given days.
Date
Number of btc in GBTC
31 Dec 2017
170,000
31 Dec 2018
204,390
26 July 2019
239,513
26 Oct 2019
257798
7 Feb 2020
283,192
27 Apr 2020
312886
1 May 2020
323262
17 May 2020 (100 days ago)
343954
3 July 2020
386658
27 Aug 2020 (latest today)
422308
Number of bitcoins acquired in last ~100 days: 422308 - 343954= 78354 The rate of acquiring bitcoin in gbtc had accelerated after the start of April 2020, as you can see above in the table. At the rate of about 800 bitcoins per day that GBTC has bought every day for last 100 days, the GBTC is buying Bitcoins equal to about 85% ( 783/900) of all supply of newly minted Bitcoin. And GBTC is just one of the many ETF's that people who don't want to fiddle with private keys etc, can use to acquire Bitcoin, albeit the largest one. In this period, the MNC Microstrategy has bought a further 22k Bitcoin.
At This Rate Grayscale Will Own 3.4% of All Bitcoin by January . Grayscale Investments has added 19,879 BTC to its Bitcoin Trust in the last week, purchasing Bitcoin faster than the tokens can be mined.
In the last 100 days, the number of Bitcoins in the Grayscale Bitcoin Trust (GBTC) has increased by more than 60000. These coins are locked for 6 months too.
I had made a similar thread 100 days ago. The following is a simple table showing the number of bitcoins in the GBTC as seen on its page here on the given days.
Date
Number of btc in GBTC
31 Dec 2017
170,000
31 Dec 2018
204,390
26 July 2019
239,513
26 Oct 2019
257798
7 Feb 2020 (100 days ago)
283,192
27 Apr 2020
312886
1 May 2020
323262
17 May 2020 (today)
343954
Number of bitcoins acquired in last 100 days: 343954-283192 =60762 The rate of acquiring bitcoin in gbtc has actually accelerated after April, as you can see above in the table. However, even at the rate of 600 bitcoins per day that GBTC has bought every day for last 100 days, the GBTC is buying Bitcoins equal to 2/3rd of all supply of newly minted Bitcoin. For good measure, 60k bitcoins in last 100 days is about 33-34% of all newly minted bitcoins in that period, give or take. And GBTC is just one of the many ETF's that people who don't want to fiddle with private keys etc, can use to acquire Bitcoin, albeit the largest one. The demand is there. The supply is reduced. Lets see where we will be in 100 days. I am not going to mention price of Bitcoin 100 days ago, because I am not selling anything. DYOR. Make your own investment decisions. This is not investment advice.
In the last 100 days, the number of Bitcoins in the Grayscale Bitcoin Trust (GBTC) has increased by more than 60000. These coins are locked for 6 months too.
Will Grayscale's Bitcoin Trust premium reduce anytime soon?
This post was originally published on this siteThis post was originally published on this siteGrayscale is by far, the most popular investing company in the U.S with its popular investment tool – Grayscale Bitcoin Trust [GBTC]. It is obvious that Grayscale Investment hasn’t had a serious competitor for a very long time and this has caused the company and its investors to […]
In the last 100 days, the number of Bitcoins in the Grayscale Bitcoin Trust (GBTC) has increased by more than 78000. These coins are locked for 6 months too. (x-post from /r/Bitcoin)
In the last 100 days, the number of Bitcoins in the Grayscale Bitcoin Trust (GBTC) has increased by more than 60000. These coins are locked for 6 months too. (x-post from /r/cryptocurrency)
At the current price of just over $6,100 per bitcoin, this translates to a per-share value of $5.89, about $1 less than the trust's current share price. Plus, Grayscale charges a high 2% annual ... The Grayscale Bitcoin Trust is a digital currency investment product that individual investors can buy and sell in their own brokerage accounts. On January 21, 2020, it became an SEC reporting ... The rise in the price of Bitcoin resulted in a rally in Grayscale Bitcoin Trust (OTCMKTS:GBTC) recently. Additionally, it’s also necessary to note that there are no other comparable Bitcoin trusts that could meaningfully compete with Grayscale. Hence, Grayscale has enjoyed a monopoly position and in turn, has only been a boost for the investors. Titled, auditable ownership through a traditional investment vehicle. Grayscale Bitcoin Trust is a traditional investment vehicle with shares titled in the investors name, providing a familiar structure for financial and tax advisors and easy transferability to beneficiaries under estate laws. Bitcoin has been on a roller coaster ride since the pandemic began. Despite the digital currency’s recent volatility, Grayscale’s GBTC Bitcoin Trust has been buying the digital coin at a ...
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