The Bitcoin community across the world is currently witnessing the rise of Bitcoin for the second consecutive week now. Bitcoin price has increased by from somewhere around $450 per bitcoin to close to $600 per bitcoin in the past two weeks. The upward movement of bitcoin value has increased confidence on the digital asset among investors.
The increased confidence is not only visible in the trade volumes of the digital currency across various exchanges but also in the current demand for bitcoin liked assets. One of the well-known bitcoin-linked asset, GBTC which happens to be the share of Greyscale Venture’s Bitcoin Investment Trust has seen a significant increase in the value, thanks to the surging bitcoin price. According to market data, the value of one bitcoin, based on the underlying bitcoin per share ratio stands at around $933.50, which is 60 percent higher than the actual market rates of bitcoin. The current value of GBTC signifies the willingness of investors to bet heavily on the digital currency which has had its ups and downs in the past and known for its price volatility. GBTC is Bitcoin Investment Trust’s publicly quoted security, the first of its kind which is solely invested and derived from the price of bitcoin.
With GBTC, investors gain exposure to the price movement of bitcoin through a traditional investment vehicle, which is a perfect combination for those who believe in old school ways of investment. GBTC further removes the challenges that come with buying, storing and securing the digital currency itself. Each GBTC is worth about 0.0948 bitcoin.
The Bitcoin Investment Trust’s securities are available for trade on OTC Markets , under the OTCQX marketplace. The OTCQX marketplace uses Alternative Reporting Standards, allowing investors to trade the securities using brokerage accounts at market prices. Accredited investors, on the other […]
