Loading ...BITCOMANIA
WELL SONOFABIT !
This Thing Lasted about as long as a Chinese 5 Year Plan
Just another Passing fancy …IMHO
Now Apparently GBTC the Bitcoin ETF is being questioned to come clean. Do they have the BTC backing the Fund Up or just another FRAUD ?
Amidst the heightened scrutiny on basically all structured crypto products following the blowup of FTX, many players in the crypto space are rushing to reassure their clients and the investing public that their assets are real, unencumbered and safe.
The grandfather of all bitcoin structured products, the hugely popular Grayscale Bitcoin Trust, has seen its discount to NAV plunge to almost -45% from about 0% in the beginning of 2021 as bitcoin has fallen in price.
In other words, if you want to buy bitcoin, and you trust that Grayscale’s assets are safe and sound, buying their trust here would essentially allow you to buy bitcoin for an additional 45% off its spot price
Grayscale Bitcoin Trust Says It Won’t Confirm Its On-Chain Wallet Information Publicly
Got Gold ?
BITCOIN : A 1 DECADE FLASH IN THE PAN
GOLD : PRESERVING WEATLH FOR 1000 DECADES
Not your keys. Not your assets.
GBTC counter party risk is an issue. Are there any claims on the BTC? I suspect so.
The same applies to GLD, SLV and in fact all these derivative ETFs.
Is the gold or silver really there and are there any other claims on it?
After what has happened over the last 3 years, who do you trust? Answer: Nobody.
Good point Spock
Wouldn’t be surprised to see GLD and SLV be scrutinized and also exposed as a scam
Great point, Spock. Everything is a lie!
“Everything is a lie!”
So don’t forget, all price discovery (genuine or otherwise) is itself merely supported by the last incremental purchase made almost certainly using funds acquired as borrowed dollars that can’t be paid back. Or so we will find out in due time.