Topic: Everything you wanted to know about Grayscale BTC Trust but were afraid to ask! - page 45. (Read 17264 times)

Really impressive, they buy regardless of the price and if they continue like this I wonder how long it will take them to double the amount they already have and approach the amount of 1 million BTC in their possession?

According to the data presented by fillippone, at the beginning of August they were at 400 000 BTC, now they have almost 82 000 more and there is no doubt that by the end of the year they will reach 500 000 BTC, so if they buy around 100 000 on average every 4 months, by the end of next year the total amount could exceed as much as 800 000 BTC.

Many thanks for your quick response.  Grayscale and ETC look very attractive right now.  Unfortunately, they are not offered by my broker.  They only offer XBT.

I think the best is the following one:

ETC Group to launch bitcoin ETP on Deutsche Boerse

It also should be available in UK, if I am not mistaken.
These are real BTC, not CFD...

WOW.
@Grayscale
 added $500 million in new assets under management in a single day.

They're now over $9 billion in total AUM.

Someone stop @Sonnenshein and @BarrySilbert before they buy up everything and there is nothing left for the rest of us!

JP Morgan is going full bonkers about Bitcoin.
They are shilling Bitcoin to their clients now

<...
My question is, which is the best tracker to invest in if you consider the euro will lose value in the near term and money will pour into the dollar?
<...>

The GrayScale Bitcoin Trust is outperforming gold exchange-traded funds, a trend perhaps driven by institutional investors like family offices, according to a report by JPMorgan analysts that CoinDesk obtained.

• “This contract lends support to the idea that some investors that previously invested in gold ETFs such as family offices, may be looking at bitcoin (BTC, +4.48%) as an alternative to gold,” the analysts wrote in the Nov. 6 report.
• The climb of the Grayscale Bitcoin Trust indicates it's not just millennials driving demand for bitcoin, but institutional investors like family offices and asset managers, the analysts said. Grayscale is part of Digital Currency Group, CoinDesk's parent company.
• The analysts continued: “As we had highlighted in our previous [report] of October 23rd, the potential long-term upside for bitcoin is considerable if it competes more intensely with gold as an ‘alternative’ currency given that the market cap of bitcoin would have to rise 10 times from here to match the total private sector investment in gold via ETFs or bars and coins.”
• The analysts noted, however, that the “sharp spike in prices this week appears to have taken bitcoin close to overbought levels” which could trigger a sell-off.

What makes the October flow trajectory for the Grayscale Bitcoin Trust even more impressive is its contrast with the equivalent flow trajectory for gold ETFs, which overall saw modest outflows since mid-October(Figure 7).
This contrast lends support to the idea that some investors that previously invested in gold ETFs such as family offices, may be looking at bitcoin as an alternative to gold. As we had highlighted in our previous F&L of October 23rd, the potential long-term upside for bitcoin is considerable if it competes more intensely with gold as an“alternative” currency given that the market cap of bitcoin would have to rise 10 times from here to match the total private sector investment in gold via ETFs or bars and coins

Interesting analytics on Twitter:


Viktor Fischer of the Rockaway Blockchain Fund analyzed the activity of the Grayscale Bitcoin Trust and came to the conclusion that since the halving of bitcoin GBTC has acquired an average of 900 BTC ... PER DAY.

Looks like another scam to get hold of peoples money.

BlockFi, the crypto lending focused firm, has invested in the Grayscale Bitcoin Trust (GBTC), becoming one of the biggest shareholders. According to a filing made with the U.S Securities Exchange Commission (SEC), the firm purchased 5.07% of the GBTC Trust. Notably, companies in the U.S are required to report through form 13G if they own more than 5% in another firm.

The filing further reveals that the shares acquired by BlockFi translate to 24,235,578 of the GBTC Trust. Going by the latest Grayscale annual filings, this value is roughly 24,235.578 Bitcoins, given that every share is priced at 0.0001 BTC. As per the prevailing crypto market prices, the BlockFi investment in GBTC is roughly $328 million.

It seems a bit illogical to me that only people older than 25 are taken into account, the same as those up to 64 years of age. I don't see why people under the age of 25 wouldn't be interested in Bitcoin, because I believe that we have a very large percentage of such members on the forum. On the other hand, people between the ages of 55-64 are taken into account, and the percentage of retirees who would invest in BTC is as high as 30%. The retirement age in the US may be different from the EU, but unless it is an early retirement, retirees would be those aged 65 and over.

Grayscale is definitely one of the main drivers of this trend, and the whole thing was actually accelerated by a pandemic that shook the already declining confidence in classic investments.

This is the second consecutive year that Grayscale, the world’s largest digital currency asset
manager, surveyed investors to explore changing attitudes and perspectives around Bitcoin (see
2019 Bitcoin Investor Study for last year’s report). Since its inception more than a decade ago,
Bitcoin has become a popular topic of discussion for investors, advisors, financial institutions, service
providers, regulators, and policymakers. As more stakeholders come to the table on this nascent
asset, they have brought a variety of perspectives and research that collectively has helped the
world better understand how digital currencies fit within the existing global financial system - though
it’s clear the world is still in the early days of integrating Bitcoin into our everyday lives.
This year has been unlike any other in recent history. The COVID-19 pandemic and subsequent
economic recession have forced individuals, small businesses, corporations, and governments to
make radical changes in a short period of time, fostering opportunities for innovation on one hand,
yet causing economic distress and displacement on the other. This period of rapid change has
forced investors to respond in kind, and new trends have developed that will only be understood
years down the line. With that in mind, it’s not entirely surprising that our survey revealed a
significant increase in interest in safe haven assets compared to 2019’s results.
This year’s survey saw the continuation of some trends from last year, while other findings stood
out for being significantly different—and sometimes unexpected—given the market environment.
No matter what side of the (Bit)coin you may be on, it is critical to understand how today’s investors
view Bitcoin, the trends driving its growing popularity, the opportunities it presents, and the
challenges it still faces as the leader of the financial industry’s newest asset class.