/biz/ - Business & Finance

[Anonymous No.57625915]

>1 GLNK = 4.5 LINK

[Anonymous No.57626222]

>>57625915
Greyscale LINK -- it's advertised in the NYC subway system -- let's get a qrd and maybe a few pills.

[Anonymous No.57626565]

>>57625915
in reality:
>1 GLNK = 0.93 Link

It's just the price that's nearly 5x higher. Which would be Link's current market price if there were no manipulation.

[Anonymous No.57626691]

>>57625915
I don't understand. So people have a way to buy LINK outside a crypto exchange and the price is 90USD? How does this work? Does Greyscale have a LINK stashed in a wallet and turned that into paper LINK for people to trade in the open market? Is it all just made up?

[Anonymous No.57626704]

>>57626691
It's a share, and each share is backed by (slightly less than) 1 Link token.
Being a share means it's a security, and thus fully regulated and compliant, meaning institutions can buy it for investment purposes without any reservations.

[Anonymous No.57626718]

I don’t understand a lot about this stock BUT what I really don’t get is why everyone thinks it should be anywhere near the price of the LINK token. You guys know there’s a GBTC too and the share price of that is $46.22 right? Nowhere near the price of a bitcoin. If I’m massively missing something please someone make me look stupid

More importantly though, what are the “tokenomics” of this stock? Crazy that it’s pumped from $15 to $90 on such low volume.. how high can it theoretically go? Assuming there’s some kind of physical limit just given its nature but it’s hard to find info on it

[Anonymous No.57626736]

>>57626704
So Greyscale made X amount of shares backed by >X amount of LINK and those shares have been traded around and skyrocketed in value way higher than the current price of LINK?
>BAT token is $6 while the token is worth $0.2
I honestly don't understand the massive price difference. Are the shares redeemable? What happens if a dude with 100 shares of GLINK worth $9000 tries to cash out? Do they give him 9k or the actual market price of the trusted LINKS? Does it have like a 10 year period before cashing out? Then I would understand paying a heavy premium.

[Anonymous No.57626742]

>>57626718
>what I really don’t get is why everyone thinks it should be anywhere near the price of the LINK token
Because 1 GLNK share is backed by 1 Link token.

>there’s a GBTC too and the share price of that is $46.22
1 GBTC is backed by 0.00089298 BTC.
Meaning you have to multiply the GBTC price by about 1,120, giving a price of about $51.600. Which is roughly the current market price of Bitcoin.

[Anonymous No.57626771]

>>57626736
>>BAT token is $6 while the token is worth $0.2
There are 9 BAT tokens per GBAT share.
So Grayscale buyers think BAT should be 3x higher than the current market value.

[Anonymous No.57626787]

>>57626771
i don't think it'll go anywhere near $90 like i would just buy link tokens like why would you pay 3x what link is just to have it on the stock market greyscale buyers are honestly just kind of retarded for paying such a heavy premium i mean you'd think that buying gbtc or gbat would give you something more than just exposure to link but it seems like they are literally just selling you exposure to link on the stock market which is not really worth it at all

[Anonymous No.57626826]

>>57626771
Yeah, forgot to count for amount of tokens per share. I guess this is just a tool for big institutions to put their cash on the crypto market without any regulatory scrutiny. They don't expect to cash out until years later.
Still I think it's a massive price difference compared to the risks the crypto market has.

[Anonymous No.57626914]

>>57626742
Thank you for dumbing it down, I missed that it really is supposed to be 1:1 (almost). So how high can this go? Surely there’s a physical limit here right…unless grayscale buys more link at some point? Wondering when to sell

[Anonymous No.57626950]

>>57626914
There is no physical limit. GLINK price is what the market is willing to pay right now for 0.93 LINK. This is proof that there is A LOT of money that wants to enter the crypto market but it just doesn't have legal means to enter it. LINK's mcap at that price would be 50B instead of the actual 11B.

[Anonymous No.57627131]

>>57625915
>1 music = 2.16 gusic