they are massively collecting - why?
I always assume these guys have better information than we do but maybe they only buy because stuff is cheap
Topic: GBTC Bitcoin Investment Trust Observer - page 71. (Read 262371 times)
-10XBT yesterday. So the 6847XBT on 11 Nov was real
Indeed, exciting times
-10XBT yesterday. So the 6847XBT on 11 Nov was real
-10XBT yesterday. So the 6847XBT on 11 Nov was real
If the data is accurate, 6847 Bitcoin was bought yesterday
(There was a mistake in my previous update)
(There was a mistake in my previous update)
hmmm seems like they always buy a big amount day before price skyrockets
Yep.. Probably the best indicator which way the price will go
If the data is accurate, 6847 Bitcoin was bought yesterday
(There was a mistake in my previous update)
(There was a mistake in my previous update)
hmmm seems like they always buy a big amount day before price skyrockets
If the data is accurate, 6847 Bitcoin was bought yesterday
(There was a mistake in my previous update)
(There was a mistake in my previous update)
Things are starting to heat up again!
any info why?
I do understand little of the legal stuff going on in the usa - but did they also plan to start an etf? I remember something like that.
That ETF is not even happening in its current form... everyone here on wall st already knows that
If the data is accurate, 6847 Bitcoin was bought yesterday
(There was a mistake in my previous update)
(There was a mistake in my previous update)
Things are starting to heat up again!
any info why?
I do understand little of the legal stuff going on in the usa - but did they also plan to start an etf? I remember something like that.
If the data is accurate, 6847 Bitcoin was bought yesterday
(There was a mistake in my previous update)
(There was a mistake in my previous update)
Things are starting to heat up again!
I'd have to double check the letter again from the SEC, but I don't think it said anything about prohibiting buying shares, just selling.
That would be quite unusual. Unless the SEC is worried about the huge loss that some customers would face if they liquidated now.
Earlier this year, SMBIT did promise that an open market for their shares would be available this year (which quarter?). Perhaps the SEC letter has something to do with that promise?
If the data is accurate, 6847 Bitcoin was bought yesterday
(There was a mistake in my previous update)
(There was a mistake in my previous update)
I'd have to double check the letter again from the SEC, but I don't think it said anything about prohibiting buying shares, just selling. And since they took off the .5% buy fee, maybe people are buying more shares knowing that they might be able to sell later and more easily with the ETF. All guesses here.
If the data is accurate, 6847 Bitcoin was bought yesterday
(There was a mistake in my previous update)
(There was a mistake in my previous update)
I get 6,988 raw, and 6,835 with the adjustment factor.
I still have no idea how they can be prohibited by SEC from letting investors redeem, but can still sell shares.
I still have no idea how they can be prohibited by SEC from letting investors redeem, but can still sell shares.
so did we get confirmation that the 7k buy was legit?
So far, the 7k buy is just the result of jl2012's calculations, but at least it wasn't reversed a few days later like before, so it's more likely it is not a mistake.
Confirmation will come if and when the fund officially lists its total BTC holding, which they seem to do about monthly, I think. Someone correct me please if I'm wrong about that.
if I calculated right, they added at least 6500 Xbtc.
it seems they just bought more.
so did we get confirmation that the 7k buy was legit?
So far, the 7k buy is just the result of jl2012's calculations, but at least it wasn't reversed a few days later like before, so it's more likely it is not a mistake.
Confirmation will come if and when the fund officially lists its total BTC holding, which they seem to do about monthly, I think. Someone correct me please if I'm wrong about that.
They have just updated the actual holding on 1 Nov. The last time they did so was in April, and monthly before that. So it's difficult to predict when will they update again. Actual I thought they would never update again.
It was pointed out that on the same day of the "7k buy" SMBIT changed the price source for the NAV. It shouldn't have such effect but I can't rule out the possibility without the next actual holding figure.
Anyway, all data shown in this thread were publicly available. The formulas I use are also available. If there were any errors, it must be the fault of SMBIT as I always double check when there is a big movement. I never presented this as a trading guide and if someone gets burnt with the faulty data from SMBIT, blame them.
I'll certainly keep updating this. I'm not updating as frequent as before because the lack of meaningful movement.
so did we get confirmation that the 7k buy was legit?
So far, the 7k buy is just the result of jl2012's calculations, but at least it wasn't reversed a few days later like before, so it's more likely it is not a mistake.
Confirmation will come if and when the fund officially lists its total BTC holding, which they seem to do about monthly, I think. Someone correct me please if I'm wrong about that.
so did we get confirmation that the 7k buy was legit?
@jl2012
Hope you're not taking this newbie account's accusations serious.
You're doing the absolutely best that can be done with the incomplete information that is available.
If someone is dumb enough to run a 1:1 strategy following the reverse engineered suspected account changes of the fund, that's his problem alone. Everyone else with two brain cells to rub together will use it a bit more cautiously: as an (imperfect) estimation of what the currently largest fund with a Bitcoin collateral is doing. Nothing more, nothing less.
Hope you're not taking this newbie account's accusations serious.
You're doing the absolutely best that can be done with the incomplete information that is available.
If someone is dumb enough to run a 1:1 strategy following the reverse engineered suspected account changes of the fund, that's his problem alone. Everyone else with two brain cells to rub together will use it a bit more cautiously: as an (imperfect) estimation of what the currently largest fund with a Bitcoin collateral is doing. Nothing more, nothing less.
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