[2017-05-15] Underlying Asset Bitcoin Value Closer to $3000 – GBTC

[tyz]

Underlying Asset Bitcoin Value Closer to $3000 – GBTC

Bitcoin price has been skyrocketing, before this weekend’s cyber attack hiccup, but prices are again on the move upward. How much is a Bitcoin really worth right now? American investors are seeing a true value of more than 70% higher than the market rate this week.

As Bitcoin does not have any real level of mainstream investor access like an ETF, even though that is still a possibility, the next best thing right now is shares in the Grayscale Bitcoin Trust, or GBTC, according to sources. The Grayscale Bitcoin Trust is one of the very few ways to access Bitcoin through a standard brokerage account.

http://bitcoinist.com/underlying-asset-bitcoin-valued-at-closer-to-3000-gbtc/

[TraderTimm]

GBTC is trading at 197.00 -- which implies 1,970 for the underlying. Not sure where they got 3,000 from. Perhaps fundamentals? But for now, its been trading rather well and tracking BTC price.

[odolvlobo]

The premium for GBTC does not indicate "underlying asset value". It is simply the result of the lack of liquidity caused by the lock-up period for new shares.