If you are invested in GBTC with your 401k or IRA, and your intention is to “go long.” Then you, like the Bitcoin investor, should consider “holding.”
This section covers cryptocurrency ETFs, ETNs, trusts, funds, and other such products. For example, this section includes GBTC.
NOTE: The Bitcoin Investment Trust (GBTC) is a trust that holds Bitcoin. Shares of the trust can be purchased on the stock market. The trust holds about 170,000 bitcoins. Each share represents about .092 bitcoins (so if you own 10 shares, you own contracts that represent just under 1 bitcoin). In other words, GBTC isn’t a cryptocurrency. Instead, it represents ownership of a cryptocurrency held in a trust by the Greyscale investments.
GBTC (the Bitcoin Investment Trust) hit $3,350 today. That is the equivalent to about $34k per Bitcoin. This tells us demand for Bitcoin is strong.
Despite being somewhat unclear on other forks, there was a press release from Greyscale that discussed Bitcoin Cash distributions for GBTC shareholders.
GBTC could cause major problems by being unclear on what it plans to do with the Bitcoin forks. There is only one answer, HOLD all coins in the trust.
One might ask “should I buy GBTC,” or “should I buy GBTC or BTC?” That is, “should I by the Bitcoin stock or actual Bitcoins?” Here is some insight.
The Bitcoin Investment Trust (GBTC) is the only choice for investors to trade Bitcoin on the stock market, and for this investors pay a premium.
We explain how to trade cryptocurrency for beginners. To start trading cryptocurrency you need to choose a cryptocurrency wallet and an exchange to trade on.