Thu Mar 11 16:59:28 2021
(*7d115397*):: $GBTC is breaking
— Grayscale Halts New Investments in GBTC After Trading at 15% Below Bitcoin – CoinDesk
— Earlier today, the investment manager’s parent company, Digital Currency Group, said it authorized the purchase of GBTC shares.
(*7d115397*):: they’re trying to prop it up with buybacks since they don’t run redemptions
(*67e9b79f*):: in the bad way or the good way? i just bought some the other day
(*67e9b79f*):: are you daying gtfo?
(*67e9b79f*):: oooh
(*7d115397*):: I don’t know. If there is a chance they could start redemptions or turn it into a proper ETF then it will snap back to near parity but I wonder if they’ll close GBTC and start a completely new fund for that…. :man-shrugging:
(*67e9b79f*):: i may be getting some extra premium
(*7d115397*):: or if the buybacks work, maybe that’s all they need to do
(*7d115397*):: for now at least