Shares of Bitcoin Investment Trust (OTCMKTS:GBTC) are trading at their highest premiums relative to their underlying bitcoin value since shortly after their public debut 6 months ago.
On Friday (Bitcoin Black Friday), the shares closed higher by 11.96% at $47.00, playing catchup to bitcoin’s huge gains from the day before.
Each share currently represents approximately 0.0959 BTC. Friday’s closing price implies an underlying bitcoin value of $490, which is a 36% premium to the actual bitcoin price of $359. Shares hit an intraday high of $51.50, their highest since hitting $57.00 during bitcoin’s spike to $500 earlier in the month.
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http://www.financemagnates.com/cryptocurrency/trading/premiums-on-bitcoin-investment-trust-gbtc-hit-6-month-high/
