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Keep in mind GBTC is trading last I checked around a 20% premium above bitcoin... which means if we see a bitcoin etf that is able to match the price of Bitcoin, GBTC will shed 20% rapidly because traders have pushed a 20% premium on GBTC.
Yeah I've been pondering about this. I'm comfortable with the premium because my guess is btc hasn't reached peak this year yet. Also maybe upcoming etf will have similar premium. The conversion fees of BTC to/from fiat is high so I can't imagine not having premium.
Hey I'm wondering if you can determine trend based on premium? I tried but I'm bad at reading technicals.
Yeah I've been pondering about this. I'm comfortable with the premium because my guess is btc hasn't reached peak this year yet. Also maybe upcoming etf will have similar premium. The conversion fees of BTC to/from fiat is high so I can't imagine not having premium.
Hey I'm wondering if you can determine trend based on premium? I tried but I'm bad at reading technicals.
I can't speak for the premium, but the chart of GBTC is very bullish, but extended. I wouldn't be an advocate to buy now as a new position. However, if you already own it, I would definitely hold it. If someone wanted to invest in bitcoin, but currently have no position, I would buy actual bitcoin rather than go through GBTC. With that being said, it broke to a new all time high yesterday and today is breaking out on good volume, so this could definitely continue flying higher. I just personally wouldn't start a new position with GBTC now because of the premium, this isn't something you can just hold for multiple years without taking large risks not associated to bitcoin.
I can't speak for the premium, but the chart of GBTC is very bullish, but extended. I wouldn't be an advocate to buy now as a new position. However, if you already own it, I would definitely hold it. If someone wanted to invest in bitcoin, but currently have no position, I would buy actual bitcoin rather than go through GBTC. With that being said, it broke to a new all time high yesterday and today is breaking out on good volume, so this could definitely continue flying higher. I just personally wouldn't start a new position with GBTC now because of the premium, this isn't something you can just hold for multiple years without taking large risks not associated to bitcoin.
Thanks!
I also hold actual bitcoin and do prefer it over GBTC. I just decided to add GBTC to my 401k fund.
Sold too early. Guess I should have anticipated the chaos going on now.
This thing will be up again tomorrow.
I think so too. You did well for a quick hour or two trade though! This should be a good year for gun stocks. I'm gonna hold this one for a while, maybe see how the next earnings announcement goes.
The party of law and order is no more. I also think SWBI has more room to run based on this outcome.
The problem has been ammo ..it is very difficult to find any good ammo ...a gun and no ammo is a hammer
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