Replies to post #6677 on Grayscale Bitcoin Trust (GBTC)

[Tenured]

While the forecast of 30k for bitcoin is high and unlikely I should point it that your valuation of the bitcoin is kinda misleading.

What i mean is If we were talking about a stock and shares outstanding yes that number seems really absurd.

But technically we're talking about bitcoin (I'm referring to the 20 million in your calculation) and since it's technically a currency, a number in the trillions isn't that absurd when you think about it.

Personally I think gbtc can hit $5500-$7500 in 2018 if things continue to climb. Bitcoin will continue to be in demand as bitcoin has become synonymous with the US dollar when it comes to crypto currency. What I mean is you typically need bitcoins to buy other currencies this keeping it a necessity.

Rough couple of days for sure but longs are still in the black. Tomorrow
Could be worse or better. Depends on what Asia does tonight when their market opens.

[tootalljones]

approximately 225 trillion in global fiat and gold, so 6 trillion for gbtc is modest.