Bitcoin (BTC/USD)

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  • Here is a quick question. What are you guys using to play Bitcoin without actually owning Bitcoin? I was in GBTC, but don't like that it's trading at a discount to BTC now. What else follows Bitcoin relatively well?
    • I was the misfortunate fool who purchased it at a premium
    •  Yes, that is true, and it still tracks Bitcoin. The problem is, it is now inefficient. You can buy it for less than the actual underlying value, but it also means that as Bitcoin goes up, GBTC will gain less a percentage than their BTC holding. It also means that if their BTC holding loses value, GBTC will love more percentage wise. They have completion from global ETF's now with lower fees and less rules for institutions. Therefore institutions are leaving GBTC and going to the ETF's, which is causing it to trade at a discount. I believe there will be a USA ETF sooner than later, which will make GBTC's problem worse. So, I'd rather not use it unless they get a premium back, which I don't believe they will. At least not keep it if they do.
    •  When it was at a premium, I waited until the premium was about 10% before I bought. I had noticed, at the time, 10% seemed like the lowest the premium had gotten in recent history.
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