RATE Group | Investors in US Market Paid $39,000 to Buy Bitcoin at Peak Using GBTC
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Investors in US Market Paid $39,000 to Buy Bitcoin at Peak Using GBTC

22 Nov Investors in US Market Paid $39,000 to Buy Bitcoin at Peak Using GBTC

Posted at 18:31h in Bitcoin News by

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In the bull market of 2017, crypto investors paid more than $40,000 per Bitcoin (BTC) to purchase the dominant cryptocurrency.

In the US market, a product called the Bitcoin Investment Trust (GBTC) offered by Grayscale Investment, a subsidiary of Digital Currency Group (DCG) exists that allows retail investors to invest in Bitcoin through the same account used in the stock market and other public markets.

$39,000 Per BTC

Every share of GBTC, an investment vehicle listed on OTC Markets, an American financial market providing price and liquidity information for 10,000 over-the-counter securities, represents one-thousandth of one Bitcoin. 1,000 GBTC is equivalent to one Bitcoin which the operators of GBTC hold, as trusted and regulated custodians.

On December 18, when the price of Bitcoin reached an all-time high of around $19,500 across major cryptocurrency markets including the U.S., Japan, and South Korea, the share price of GBTC achieved a peak…

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