TSX:BTCG.UN - Post by User
Comment by
Mat1791on Feb 19, 2021 11:01am
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Post# 32609329
RE:RE:RE:Stock price
RE:RE:RE:Stock pricemrsly0 wrote: ah... so trading here does not generate trades on the bitcoin... just buying and selling shares from a defined number of bc... so... still... eum.... not really what is desired I would say.
good luck
Mat1791 wrote: Manoj123 wrote: I bought when it was $30 and Bitcoin was $42,000 ... now Bitcoin is at $52,000 and this stupid stock is $28?? Can anyone explain that?
It's a closed end fund.
Trading bias can overshadow the movments of the underlying holdings. With new open ended etfs on the market people are jumping ship and driving the closed end funds into discount territory.
In the end the holdings are worth the holdings.
Correct
It was the only game in town until the open ended ETFs hit the market this week. Now you can own a pure play on the coin and not worry about trading bias (premiums/discount). This is why people are jumping ship.
However, in the end the closed end funds do own the coin and they are truly worth NAV. Not sure how that will reconcile itself in the future, but for now...