Grayscale Bitcoin Trust (GBTC)

[Tenured]

Can we please stop with all of the dilution theories. Everyone knows the share structure and understands that A-N-Y firm "can" issue shares up to the authorized amount. That is nothing new and some accounting textbooks and almost every instructor defines A/S as "a very big number". GBTC isn't a typical company with typical expenses and no business model to generate funds to cover expenses. It's a trust fund. It's value is derived from the value of bitcoin(supply and demand). It periodically sells bitcoins to cover fund expenses. The parent company would be incredibly stupid to tank gbtc when it has yet to release its ethereum and zcash funds to the public yet. GBTC has already resulted in thousands of dollars being paid out to its shareholders in the form of cash dividends as a result of bitcoin forks. People invested here are willing to step out on some faith here and stand with the firm a while longer. I understand that some people genuinely want to educate folks but repeating the same thing over and over and over comes across as disingenuous and will likely result in people doing just the opposite.

SO YES A FIRM (I.e., Apple, Ford, GM, GBTC) CAN ISSUE SHARES UP TO THE A\S amount in theory but they don't typically do it.

Can we please move on from this particular discussion?