[2015-05-06] CS - BIT's Shares Officially Begin Trading on Public Markets

[kaegmo]

The Bitcoin Investment Trust (BIT) has announced the start of bitcoin shares trading this week. Bitcoin has never been traded on public markets before and now the time has come.

http://www.coinspeaker.com/2015/05/05/bitcoin-investment-trusts-shares-officially-starts-trading-on-public-markets-9150/

[medUSA]

The price rose by 30% but only 435 shares changed hands. Not I would call a overwhelming response
http://www.otcmarkets.com/stock/GBTC/quote

[Lethn]

Still doing better than a lot of penny stocks and startups out there though so that's something, I think interest will definitely go up if we have a market crash and that stock is relatively unaffected.

[Kaneki]

Digital currencies is still not  stable maybe investors will be able to earn on bitcoin market fluctuations,but it will survive if the company continues to innovate and make it easier for consumers to buy, hold, and spend Bitcoin, and also expand the volume so that  large merchants can start accepting payment in Bitcoin.

[odolvlobo]

Its crazy that people are paying the equivalent of $550 for a bitcoin.

[Ghepetto]

There are bids to buy @ 650 USD per BTC



http://www.otcmarkets.com/stock/GBTC/quote

[Chef Ramsay]

There are bids to buy @ 650 USD per BTC



http://www.otcmarkets.com/stock/GBTC/quote

Yet, the asks aren't legit enough for longstanding shareholders to bite yet. But, seeing bids this high when this thing is just getting wet is telling you that premiums are the going rate for paper coins. Much can happen on either side of the isle in the next few weeks or months. While this get's underway, the Swedes will have their thing going on on the 18th and then the BitLicense and the subsequent Winkstuff afterwards leading to a boost or more in price.

[odolvlobo]

There is no reason for the shares to be priced above the actual value. It seems like all someone has to do to make a killing is to exchange bitcoins for shares and sell the shares. There has to be some kind of liquidity problem.

[Ghepetto]

There are bids to buy @ 650 USD per BTC



http://www.otcmarkets.com/stock/GBTC/quote

Yet, the asks aren't legit enough for longstanding shareholders to bite yet. But, seeing bids this high when this thing is just getting wet is telling you that premiums are the going rate for paper coins. Much can happen on either side of the isle in the next few weeks or months. While this get's underway, the Swedes will have their thing going on on the 18th and then the BitLicense and the subsequent Winkstuff afterwards leading to a boost or more in price.

Funny thing is when I speak to people outside the crypto ecosystem they seem to accept GBTC prices and ignore Btc-e or Coinbase because they have no experience with them.  Should be interesting to see where this goes.


Latest update is 280 (ETF) BTC sold between $400 & $660....

[bitcool]

...

Latest update is 280 (ETF) BTC sold between $400 & $660....

Holy cow, now it's trading at $53 per share, that implies a coin price of $530+ 

[btbrae]

Actually, the price difference represents the difficulty or lack of interest in actually purchasing, storing, and securing the bitcoins. The difference is, if you will, the price BIT charges for providing that service, being regulated, securing the bitcoins and (hopefully) taking all the hassle away from the investor. It is great for those people to have this option.