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Vacationing....be back in a week or so
GBTC is like a closed end fund but not exactly one. It doesn't hold "registered securities" like a typical closed end fund, which must hold at least 40% of registered securities. I don't think GBTC has a redemption structure unless I am mistaken. I think they can only sell shares to cover certain fees and expenses.
My understanding is they are going for a conversion to an ETF. They kinda have to because who would be willing to pay a premium for GTBC shares if another ETF is approved? How they handle the conversion for existing shareholders is above my paygrade...lol.
Yes, they definitely are trying to convert to an ETF. Them and about 16 other big money players like Fidelity, SkyBridge capital, Invesco and others. Betting money says it won't happen till 2022, but when it does it will be a generational rally for Bitcoin.
Wow....I didn't know that. Makes sense from their perspective but obviously not from the shareholders perspective. Kinda sucks.
Hey Kingpindg! You just need to give me a gmail address so I can share the google sheet with you. Send me a private message if you don't want to share it publicly.
X_DEV - ENJIN - ENJ
Jimbob! You still alive?
You're welcome. If you have any other plays you would like to run through X-DEV for price targets let me know.
X_DEV Bitcoin
Re-optimized for the current trend shift to bullish as of early July 2021.
Note that "buy and hold" return will always be greater on a straight uptrend. Dips in longer term trends that X_DEV can capitalize on are needed to compound the returns. Also note I have included the Charting function of X_DEV. I always check price targets with TA targets, especially the CCI. This helps with the confidence of the signal when the TA mirrors the X_DEV call to buy or sell.
Lining up the X_DEV Bands with tops and bottoms on the CCI indicator is an easy way to know your set up is well optimized.
XDEV vs AIM comparison
Below are results from the Lichello AIM 10 8 5 4 5 8 10 test that was run to show how the AIM algorithm could turn $5000 into over $1 million in 7 1/2 years. I ran the same test using a fully optimized XDEV algorithm. Both time periods were exactly the same... 7 1/2 years....even though the made up dates are different.
XDEV results were nearly 7 times greater. See portfolio value and PL%
Note however, that the AIM system is fully automatic and requires no user interaction. XDEV does require user interaction to optimize the parameters.
Fidelity Makes a Long-Term Bet on Bitcoin
90% of Fidelity's biggest clients have been asking about Bitcoin and now they want to open up the space to retail.
A report by the Boston Globe has revealed that Fidelity is diving into the crypto space more than previously imagined. Fidelity Digital Assets, Fidelity's crypto-dedicated subsidiary, launched in October of 2018 with the goal of creating crypto services for the investment company's institutional and sophisticated investors.
Now, Fidelity says that 90% of its biggest clients are asking about Bitcoin. The head of sales and marketing for Fidelity Digital Assets, Christine Sandler, told the Boston Globe that the entry vehicle to crypto for investors has mostly been Bitcoin but other cryptocurrencies, like Ethereum, have a growing interest as well.
“We’re dealing with the more traditional investors, and the entry vehicle to this space is largely Bitcoin," said Sandler. Interest in things like Ethereum "has been escalating in the last few months, but it’s not anything close to what we see in bitcoin.”