RATE Group | Expecting a Drop to $7,000
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Expecting a Drop to $7,000

15 Dec Expecting a Drop to $7,000

Posted at 08:35h in Bitcoin News by

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Contents

  • Why Bitcoin Investment Trust premium shows institutional demand
  • Will it help sentiment improve in 2020?

The Bitcoin Investment Trust (GBTC), an investment vehicle operated by Grayscale that lets accredited and institutional investors trade bitcoin, is still showing a high premium at 24%.


Each share of GBTC represents about one thousandth of one bitcoin or 0.00097033 BTC. Since GBTC is currently priced at $8.79, that values bitcoin at $8,966. On major spot and margin trading platforms, the bitcoin price is hovering at $7,500.


Why Bitcoin Investment Trust premium shows institutional demand


Due to various restrictions, most accredited and institutional investors are unable to invest in bitcoin and other major cryptocurrencies through crypto exchanges. They require strictly regulated platforms that are overseen by financial regulators.


Investors pay a premium to purchase bitcoin through the Bitcoin Investment Trust because the…

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