"GBTC up 10% how come BTSC down?" If you ask me (and you did..), it's because BTSC doesn't own enough crypto mining capacity to cover it's payroll, let alone any revenues to link it to moves in $BTC price. Seriously, one can buy the same amount of mining capacity (70 TH/s, buy 5 of Antminer S9) as this company has (per their last quarterly report, 15 of Antminer S7)) for about $25,000, and it'll pay for itself (at $BTC = $12,000 USD) in about 2 months with a $12k/mo revenue stream. But, if you buy $25,000 of this stock, 75,000 shares, you only own a 75/460,000 slice of that mining capacity.
That's why this stock SHOULD crash - I think it's being buoyed by people's hopes for astronomical gains in $BTC (nevermind that in THAT case, MGTI's 860 operating, 170 on hand, 3650 on order, about 4700 total of Antminer S9, would still be a much better investment...) Or, people are simply trading on chart signals and herd mentality without considering the value basis here.
Funny historical note - before it was called BTCS, this company was actually named "Tulip Biomed". As in.. Dutch tulips...
