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/biz/ - Business & Finance

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52905906 No.52905906 [Reply] [Original]

Why does no one want to buy GBTC?
It should be free money right?

>> No.52905912

>>52905906
gayscale

>> No.52905944
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52905944

>>52905912
we have a similar ID color, this is awkward

>> No.52905951

Gay bitcoin?

>> No.52905966

>>52905944
yours is more of a maroon and mine is like... burgundy?

>> No.52905972

>>52905906
unless they have PoR no one knows if their bitcoin actually exists

>> No.52905984

>>52905972
Proof of Retard? What?

>> No.52905994

It's -47% because they don't own any BTC. They are a ponzi. Wall street and easily short the stock to 0. It's a scam.

>> No.52905997

>>52905972
>>52905984
oh reserves, fuck me

>> No.52906014

>>52905906
if you want exposure to digital tulips, grayscale is unironically the best way to do it
regulated by the u.s. securities act
trades at a huge discount to the underlying "asset"

>> No.52906041

>>52905997
lool

>> No.52906049

>>52906014
Ok but what if it keeps dumping?
Why don't they just sell some of their bitcoins to buy their own shares?

>> No.52906075
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52906075

>>52905984
>>52905997

>> No.52906093

>>52906049
as long as you think they have the bitcoin (and it's much more likely that grayscale does than binance does), dumping just means more reason to buy it, at least relative to other avenues

>> No.52906398

>>52906093
This.
Coinbase did put a release out saying they hold 600k btc for grayacale, so who knows, it would definitely be insane and criminal for them to lie, but its not impossible.

>> No.52906550

>>52905906
because you don't own any bitcoin when you buy GBTC. Your limited strictly to the GBCT supply and demand market, which is obviously cucked. bitcoin could be at 1 million, doesnt mean somebody would want to buy your gbtc share at 5k. It doesnt equal one bitcoin, it's just an useless pile of crap

>> No.52906584

>>52905906
Buying GBTC is like buying an NFT of Bitcoin. Cringe

>> No.52906619

>>52905906
GBTC backed the closed door NYA in 2017 and trashed their reputation to OGs in the space.

Who knows what those Bitcoin represent.
I'm not purchasing a stake in them.
If they're ever for sale I'll consider buying them for a discount but they need to be under my control.

Why would you sell a limited product?
Fuck them.

>> No.52906652

>>52905906
GRAYSCALE CRASHING SEE KARL_0X TWITTER

>> No.52906653

>>52906398
Grayscale is owned by DCG who owes Gemini customers a billion.

They're fucking Jews, simple as