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22 April 2021

Grayscale Investor Rips Into Bitcoin Trust Over ‘Abysmal’ Discount - Decrypt

Grayscale Investor Rips Into Bitcoin Trust Over ‘Abysmal’ Discount - Decrypt


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Grayscale Investor Rips Into Bitcoin Trust Over ‘Abysmal’ Discount.

At least one investor isn’t happy with the performance of the Grayscale Bitcoin Trust (GBTC), which holds more than 3% of all Bitcoin in circulation.

It’s asking Grayscale to conduct a tender offer that would allow shareholders to cash out at a higher price than GBTC’s market value.

Grayscale instead sells shares in a trust that roughly correlates to the price of Bitcoin; it custodies the coins on investors’ behalf in exchange for a fee.

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