Will The Grayscale (GBTC) Unlocks Crash Bitcoin?

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In this video, I discuss the impact of the Grayscale Bitcoin Trust (GBTC) unlocks on the price of Bitcoin.

While the popular press has focused on the unlocks as a bearish catalyst, they fail to mention the large short Bitcoin futures positions that will need to be covered (bullish for BTC futures and BTC spot), as well as the fact that no BTC itself will be sold.

GBTC continues to be a black hole for BTC, though additions to the trust are less likely as long as it continues to trade at a discount to NAV (net asset value).

Not investment advice! Consult a financial advisor.

Grayscale investment holdings:
https://www.bybt.com/Grayscale

Grayscale Bitcoin Trust unlocks chart:
https://www.bybt.com/Grayscale#Premium

Chart of GBTC premium/discount:
https://ycharts.com/companies/GBTC/discount_or_premium_to_nav

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#Bitcoin
#GBTC
#Grayscale

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