GBTC Bitcoin Investment Trust Observer

[DieJohnny]

Looks like GBTC is finally dipping.

it is the only game in town, I think anything below $400 is a buy as i don't believe Bitcoin will drop below 2k anymore.

[Bitcoinaire]

Looks like GBTC is finally dipping.

it is the only game in town, I think anything below $400 is a buy as i don't believe Bitcoin will drop below 2k anymore.

Exactly my thinking. Once this Aug 1st fork business passes bitcoin should be on solid ground for another rally.

[mmortal03]

Looks like GBTC is finally dipping.

it is the only game in town, I think anything below $400 is a buy as i don't believe Bitcoin will drop below 2k anymore.

Exactly my thinking. Once this Aug 1st fork business passes bitcoin should be on solid ground for another rally.

After watching the following, I'm not so sure of that. Keep in mind that the Bitcoin Investment Trust may have to choose a side of the fork.

https://www.youtube.com/watch?v=JTCB5bRGQj0

[DieJohnny]

Looks like GBTC is finally dipping.

it is the only game in town, I think anything below $400 is a buy as i don't believe Bitcoin will drop below 2k anymore.

Exactly my thinking. Once this Aug 1st fork business passes bitcoin should be on solid ground for another rally.

After watching the following, I'm not so sure of that. Keep in mind that the Bitcoin Investment Trust may have to choose a side of the fork.

https://www.youtube.com/watch?v=JTCB5bRGQj0

gbtc doesn't have to do anything, they own keys, the keys are what has value period

[mmortal03]

gbtc doesn't have to do anything, they own keys, the keys are what has value period

What matters is what they do with that value and what that means for the price. If Bitcoin forks into two economically viable chains, they will hold keys to coins on both sides of the chain. Will they make that value available to their stock holders or not? Does holding their stock mean that you get the value behind those private keys on both chains, or do they just pocket the value from one of the two chains and only allow their shares to represent coins on one side of the fork?

[mmortal03]

Can the people who are buying the dips back up to $400 please stop doing that?

[mmortal03]

We've got a higher premium on GBTC shares over BTC than we did last week...

[mmortal03]

https://www.reddit.com/r/Bitcoin/comments/6nts3m/gbtc_trading_at_an_effective_bitcoin_price_of_3868/

[mmortal03]

I just read Jimmy Song's article, and it has me wondering what will happen to the potential value of the Bitcoin Cash coins that can be redeemed from the Bitcoin private keys that Xapo is holding for GBTC shareholders.

https://medium.com/@jimmysong/bitcoin-cash-what-you-need-to-know-c25df28995cf

[MrSunshine]

I just read Jimmy Song's article, and it has me wondering what will happen to the potential value of the Bitcoin Cash coins that can be redeemed from the Bitcoin private keys that Xapo is holding for GBTC shareholders.

https://medium.com/@jimmysong/bitcoin-cash-what-you-need-to-know-c25df28995cf

My guess is the trust will keep them for themselves. They know many who get into GBTC have limited options. I got it in my IRA because it is difficult to get BTC in one.

[gentlemand]

My guess is the trust will keep them for themselves. They know many who get into GBTC have limited options. I got it in my IRA because it is difficult to get BTC in one.

People putting money into GBTC are not getting bitcoins in return. They're getting shares in GBTC.

Bitcoin Cash has nothing to do with them as they themselves have nothing to do with Bitcoin.

[Chainsaw]

They'll be liquidating the fork coins and distributing assets...sometime.
Lots of wiggle room but the fact they are not supporting except through liquidation, is clear.

https://finance.yahoo.com/news/grayscale-investments-llc-statement-regarding-203000163.html

[mmortal03]

They'll be liquidating the fork coins and distributing assets...sometime.
Lots of wiggle room but the fact they are not supporting except through liquidation, is clear.

https://finance.yahoo.com/news/grayscale-investments-llc-statement-regarding-203000163.html

I'd like to know what happens if someone owned GBTC shares before the fork, and sells their shares before the distribution of assets, if they'll get theirs.

Edit: The way I'm reading the following, if you bought shares by end of day July 31st, you should be entitled to whatever they distribute.

"In addition, such distribution, if and when made, would be to owners who held Trust units on a specified record date, which is anticipated to be the day the fork occurs. The amount of any distribution will be net of expenses of the Sponsor and the Trust, including costs associated with liquidation and distribution."

[Bitcoinaire]

GBTC had a couple of nice days and Monday should see a decent pop. It should crack $500 easily.

[mmortal03]

GBTC had a couple of nice days and Monday should see a decent pop. It should crack $500 easily.

I took profits yesterday, lol, so, of course it will.

[MrSunshine]

GBTC had a couple of nice days and Monday should see a decent pop. It should crack $500 easily.

With BTC surging, GBTC will likely fly again. We may soon see BTC over 5000 and the FOMO will likely ignite GBTC.

[megadeth]

New GBTC ATH. Hope they don't sell their BCC too soon.
Personally I'd have been happier if they held both.

[mmortal03]

New GBTC ATH. Hope they don't sell their BCC too soon.
Personally I'd have been happier if they held both.

There's been an intraday high of 560, and a close of 546.45, so we didn't hit either of those ATHs today.

[megadeth]

New GBTC ATH. Hope they don't sell their BCC too soon.
Personally I'd have been happier if they held both.

There's been an intraday high of 560, and a close of 546.45, so we didn't hit either of those ATHs today.

My bad, eyeballed yahoo finance.
Damn markets closed! Hope we take these out tomorrow.

[Bitcoinaire]

Closed at 560, high of 563. Big day.