Bitcoin keeps on Rising
Investors are loving Bitcoin because it has been providing a healthy and fast return on investment. They have been eager to get their hands on Bitcoin, or to gain from it using the Bitcoin Investment Trust. The Bitcoin Investment Trust is publicly traded under the GBTC symbol and gives investors gains from Bitcoin without the tech related challenge of obtaining and storing bitcoins.
Bitcoins is current trading price is around $4,000. According to a recent release made by the Bitcoin Investment Trust, each share of GBTC represented 0.09258535 Bitcoin. GBTC is currently trading at about $684 per share, balancing about a 41.5% premium.
Even if the premium is high, investors are willingly paying it as well as the annual fee of around 2%. In the July 14th filing GBTC explaining the reason its shares are in such massive demand. The filing stated clearly:
“GBTC is the only publicly-quoted investment vehicle that seeks to provide passive exposure to Bitcoin.”
Investors are cashing in with Bitcoin
Some believe that the GBTC premium and fees are too high, and instead choose to purchase and hold Bitcoin themselves. Whichever route you go there’s no doubt that Bitcoin has gained its investors much profit this year.
Demand and interest has continued unabated. Google Trends show searches for “Bitcoin” are at an all time high as investors and Wall Street go crazy for the cryptocurrency. Analyst Ronnie Moas partially explained this and has speculated that Bitcoin may soon exceed $7,500. Respected traders masterluc, are even more optimistic predicting a price of $15,000 per Bitcoin in the coming year.