Receive all Cointelegraph news immediately in Telegram.
The Bitcoin Investment Trust (GBTC) is currently trading at $927 per share. It represents a price of $10,000 per Bitcoin, almost 120 percent premium on the current Bitcoin price.
The Bitcoin Investment Trust (GBTC) is currently trading at $927 per share, with each share representing approximately 9/100 of a Bitcoin.
This price, if calculated with Bitcoin Cash disbursement, represents a price of $10,000 per Bitcoin, almost 120 percent premium on the current Bitcoin price.
The analysis was brought to light via Tuur Demeester, the economist and editor at Adamant Research.
$GBTC is trading at an implied Bitcoin price of $9,000 per bitcoin - 95% premium. (or $10k, if one assumes separate $BCH disbursement) pic.twitter.com/GCirCfUqT7— Tuur Demeester (@TuurDemeester) August 30, 2017
$GBTC is trading at an implied Bitcoin price of $9,000 per bitcoin - 95% premium. (or $10k, if one assumes separate $BCH disbursement) pic.twitter.com/GCirCfUqT7
The price analysis shows the strong investor demand for Bitcoin, even as most investors are either unwilling or not tech savvy enough to hold the actual cryptocurrency. GBTC creates an investment vehicle that does not require investors to hold the actual currency, while at the same time allowing them to invest in Bitcoin.
The price point should not come as a surprise, with Bitcoin prices rising to record highs this week, and announcements of large-cap investors entering the Bitcoin marketplace. The suggestion by some analysts the Bitcoin prices could reach $6,000 or even $20,000 may indicate that the price of GBTC is not as overvalued as it sounds.
Follow us on Facebook
For updates and exclusive offers, enter your e-mail below.
Thank you for contacting us! We will reply to you as soon as possible.
Thank you for your interest in our franchise program.
We are considering your request and will contact you in due course. If you have any further queries, please contact: