Grayscale Bitcoin Trust (GBTC)

[Tenured]

I don't know that the recent slump is due to any premium. More like a correction and consolidation. A price between $700-800 is fine.

People forget or don't know that bonds often trade at premiums or discounts when their interest rates are above or below market rates. As long as gbtc returns above average returns I wouldn't expect the price to drop to exactly .09 bitcoins value.

Even in the past few days investors that swing in and out are making a better return in hours than they could earn by investing in the S&P. As long as that's the case i would expect a premium on GBTC.