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Grayscale Bitcoin Trust ETF GBTC

Grayscale Bitcoin Trust (the Trust) is an investment vehicle. The Trust's purpose is to hold Bitcoins, which are digital assets that are created and transmitted through the operations of the peer-to-peer Bitcoin network, a decentralized network of computers that operates on cryptographic protocols. Its investment objective is for the value of the shares (based on Bitcoin per Share) to reflect the value of Bitcoin held by the Trust, determined by reference to the Index Price, less the Trust's expenses and other liabilities. The Trust's activities include issuing Baskets in exchange for Bitcoins transferred to the Trust; transferring or selling Bitcoins, Incidental Rights and IR Virtual Currency; transferring Bitcoins in exchange for Baskets surrendered for redemption; causing the Sponsor to sell Bitcoins, Incidental Rights and IR Virtual Currency on the termination of the Trust; and making distributions of Incidental Rights and/or IR Virtual Currency or cash from the sale thereof.


ARCA:GBTC - Post by User

Grayscale Bitcoin Trust ETF > The Street: Bitcoin's Chart Suggests Buyers Beware
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Comment by balduccion Dec 03, 2020 10:02pm
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Post# 32034604

RE:The Street: Bitcoin's Chart Suggests Buyers Beware

RE:The Street: Bitcoin's Chart Suggests Buyers Beware
Ochung230 wrote: https://realmoney.thestreet.com/investing/bitcoin/bitcoin-s-chart-suggests-danger-will-robinson--15501741
 
Bitcoin's Chart Suggests Buyers Beware
 
The bitcoin news flow has moved me to take a stand.
 
By BRUCE KAMICH
 
November 30, 2020 | 12:31 PM EST
 
This morning it dawned on me that perhaps we are seeing way too much coverage of bitcoin. On my Twitter feed, from the people I follow and sites I visit. A Google search of "bitcoin" revealed "about 416,000,000 results (0.79 seconds)."
 
Too much media coverage and speculative action, with the Winklevoss twins touting a super bullish view -- and internet chat tends to be a marker of extreme sentiment that only sees the upside return and ignores the downside risk.
 
...

Bottom-line strategy: I have resisted writing about bitcoin for several years but the news flow Monday morning moved me to take a stand. Buyers beware!


It goes without saying that anyone can be correct once in a while, but that fellow's track record isn't particularly inspiring.

https://www.tipranks.com/bloggers/bruce-kamich

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