Grayscale Bitcoin Investment Trust (GBTC)

Investment Objective

Shares track the bitcoin market price, less fees and expenses

Bitcoin Per Share: 0.09306347

Current AUM: $232.62M

Current Premium

GBTC is currently trading in the OTC (over the counter) market for $335 a share. These shares can be purchased by using a simple brokerage account meaning that they are eligible for america's 25 TRILLION IRA/Retirement Asset market.

The current trading price of GBTC implies a $3500 per bitcoin valuation!!! This is not inclusive of Grayscale's insane 2% annual fee.

What will this do to Bitcoins current price?

The premium signals an EXTREME appetite for bitcoins to be traded on exchanges. The SEC has denied two applications for Bitcoin ETF's citing how the exchanges for bitcoins are mostly unregulated. The reason why Grayscale's Bitcoin Investment Trust was approved is because it issued a SET amount of bitcoins for a certain price.

This increased appetite will eventually lead to more issuances. More issuances means more open market bitcoin purchases. Which means? you guessed it. More bitcoins being purchased which drives the price up!

Get your money in! @jrcornel might be right in his article:

https://steemit.com/bitcoin/@jrcornel/want-to-become-a-bitcoin-millionaire-here-s-how

Buy it before it goes to the moon.