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The 'Grayscale effect' on Bitcoin
2) Spot markets
When GBTC shares unlock and get sold, the GBTC Premium drops (share price drops relative to the BTC in the trust)
Investors now have more incentive to by GBTC shares rather than BTC, it diverts some of the buying pressure on BTC spot markets. This is bearish.
— Willy Woo (@woonomic) July 6, 2021
Bitcoin miners, regulatory disruption
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.