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21 June 2021

Are Institutions Already Over The Bitcoin Digital Gold Narrative?

Are Institutions Already Over The Bitcoin Digital Gold Narrative?


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The crypto market seems to be stagnated after BTC’s price crash.

As seen below, the GBTC has seen a negative premium and has been trading at a discount since March 2021.

Unlike the Canadian QBTC, the GBTC has been holding its Bitcoin.

Bitcoin thesis as a store of value seems to be invalidated in the short term, as the low institutional participation suggests.

QCP Capital expects the Consumer Price Index (CPI) print and the Federal Open Market Committee (FOMC) meeting to be risk factors for BTC’s price in the short term

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