I am no expert in stocks, but can someone clearly explain how gbtc stocks moves vs. bitcoin moves? For instance, on Friday end of the trading time, GBTC is at $2700 and Bitcoin is let’s say at $ 17K. During the weekend, Bitcoin went up to $20K. Does that mean that GBTC will open on Monday at much higher? Or open like at close and then moves up? In other words, does it make sense for me to place a buy order at the opening on Monday to buy GBTC?
Doesn't make sense with derivatives here and etfs likely coming now that we have futures. There's only a limited amount of shares of gbtc, so there's a premium to access it if people don't sell at low price. It's a danerous game, got crushed by premium last trade as it collapsed 50% even though BTC saw a 10-20% gain.
So GBTC is even riskier than BTC?
Yes. BTC risk is so low. You want no risk? Only in death is there no risk lol.
Ya just buy BTC directly if you are going to use money...
I’m on coinbase but it took 9 days for the money to arrive from US Bank lol. Any faster recommendation?
Gemini
Never buy $1 for $2 !!!!
But it’s the same in the sense that I just worry about the % change and not the initial value...
People like you are everything wrong with the market...
Price this morning has reached crazy highs. ~90-100% premium. Can be an overwhelming influx of new cash. But a multiple like this at this price level is insane. Last time news of etfs crashed premium down to 20%. I stayed away from this once futures started.
You're welcome. Crashed from 3200 to 1700.
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GBTC is literally a fractional reserve system. They only hold a percentage of Bitcoin in their funds... Their value going up so much really makes no sense...