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Dam_River_Man

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Dam_River_Man

Re: tynich01 post# 186

Sunday, 05/21/2017 2:04:25 PM

Sunday, May 21, 2017 2:04:25 PM

Post# of 26491
You are right 174k Bitcoin, not 174 million. That was a typo. My bad, Sorry.

174,400 X today's price of $2040 = $355,776,000. So that is the bare minimum GBTC will be worth. But it trades at a deserved premium because it is the only way to play Bitcoin until an ETF comes out.

I know you can buy BTC. I own the real thing too. But in my IRA I want exposure to it and that is why I bought GBTC (at a premium to it's actual worth)

I see GBTC keeping at least a 20% premium over actual bitcoin cost (1/10th)

Heck the other day it went to $265 while Bitcoin was at $1850. So the demand is there. I'm very comfortable holding GBTC long term.
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