Grayscale Bitcoin Trust (GBTC)

[Tenured]

One reason is the potential return. It's not much different than a bond that pays above market interest. Would you be willing to pay more for bond that pays a high rate of interest compare to one that pays a lower rate of interest? If you're rational you would. As long as you see the potential to earn a profit you'll pay the premium up to a particular amount.

People believe the potential for bitcoin is very good to say the least. People are getting in at $300/$400$/$500 and earning a return that beats the S&P or some other conventional investment.

Where's the ceiling? That's the Magic question.