>> GBTC <<
The GBTC is a fund/ETF designed to be priced at 1/10 of a Bitcoin, but since it's the only game in town (for now), it trades at a huge premium of around 70%. Unlike Bitcoin itself, GBTC trades on the stock exchange, so it's the only easy 'go to' vehicle for most investors to use.
I figure the vast majority of investors aren't going to set up wallets or trade bitcoins on exchanges. Once more crypto ETFs are available, the hordes will pile in. That's one reason to believe that the crypto game, as an investment/speculation, is just beginning - the general public hasn't really begun to arrive yet.
It's possible though that the hedge funds will swing Bitcoin around to such extremes, with spikes and crashes, that it poisons the well for the general public, who could see cryptos as just too risky.
Tough to say, but the feeling one gets is that we're still in the early innings of a long game. Bitcoin/crypto use will grow, ETFs will become available, and who knows where these cryptos will be priced in a few years from now. Bitcoin 20,000, 30,000? It doesn't seem that far fetched, though I still wonder about dilution - what's to stop them from just expanding the 'money supply' like the Fed does? Both are just unbacked fiat currencies.
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