Portfolio Update - A Rumor On Two Names - Bitcoin And The Grayscale Bitcoin Trust
Portfolio Pulse from Gary Brode
Deep Knowledge Investing (DKI) has confirmed a rumor that a court has ruled in favor of Grayscale Bitcoin Trust (OTC:GBTC) in its lawsuit against the SEC, paving the way for the conversion of GBTC to an ETF. This is expected to collapse the discount to net asset value (NAV) of GBTC, which has already reduced from 30-40% to 17%. DKI plans to hold GBTC until the NAV discount collapses, then shift those holdings into Bitcoin. DKI's premium subscribers have made a 41% return on GBTC in two months.
August 29, 2023 | 5:49 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
The court ruling in favor of Grayscale Bitcoin Trust (GBTC) in its lawsuit against the SEC is a positive development for GBTC. This could lead to the conversion of GBTC to an ETF and collapse the discount to NAV, potentially boosting the price of GBTC.
The court ruling in favor of Grayscale Bitcoin Trust (GBTC) in its lawsuit against the SEC is a significant development. This could lead to the conversion of GBTC to an ETF, which would likely collapse the discount to NAV. As a result, the price of GBTC could increase. Furthermore, the fact that DKI plans to hold GBTC until the NAV discount collapses suggests that they expect the price of GBTC to rise.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100