Purpose Bitcoin CAD ETF Currency Hedged T.BTCC.B

Primary Symbol: T.BTCC Alternate Symbol(s): PPBCF | PRBEF | T.BTCC.J | T.BTCC.U

Purpose Bitcoin ETF (the Fund) seeks to buy and hold substantially all of its assets in the digital currency Bitcoin and seeks to provide unitholders of ETF units with the opportunity for long-term capital appreciation. To achieve its investment objective, the Fund invests in and holds substantially all of its assets in Bitcoin in order to provide unitholders with a secure, convenient, lower-cost alternative to a direct investment in Bitcoin.

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Purpose Bitcoin CAD ETF Currency Hedged > Bitcoin plunges on Sunday

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Comment by mrbbon Apr 19, 2021 3:41pm

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RE:Bitcoin plunges on Sunday

possibility but likely not. I think it is due to whales taking out the leveraged longs for easy profit. The china news on miners might triggered it but miners can't sell if the power is down.

checkup wrote:

Data website CoinMarketCap cited a blackout in China’s Xinjiang region, which reportedly powers much Bitcoin mining, for the selloff.

Luke Sully of digital asset treasury specialist Ledgermatic said some "may have sold on the news of the power outage in China and not the impact it actually had on the network".

"The power outage does expose a fundamental weakness: although the Bitcoin network is decentralised the mining of it is not," he added.