GBTC recently hit the largest discount since it was launched. Here is an investing framework to consider, including the pros/cons.
@APompliano The thing is Pomp, that there is a misalignment of incentives. @BarrySilbert earns 2% fees on NAV notional on GBTC notional. The 2% is NOT on AuM (this is somehow lost in discussions). He and Sonneshein have zero incentive to tender, cut fees or do anything to fix discount.
@APompliano With the highest AUM for #Bitcoin, if Grayscale doesn't get spot ETF approval, no one will. Feb 6 is the date to watch, if I'm not mistaken. Safe bet IMHO.
@APompliano Get out as soon as possible. Grayscale has a monopoly on investors that need a ticker symbol to buy crypto. By the real thing if you can. If you have an IRA like I did, transfer your money to ITrust Capital.
@APompliano You've got some miniscule pupils my friend
@APompliano what time in the full length video is this segment from? want to catch the rest
@APompliano Its because institutions are fleeing the scene.
@APompliano If you hold it for long enough the 2% fee will kill your arbitrage play
@APompliano Largest discount in history... Someone wants out
@APompliano Pomp @APompliano where can we catch this full interview?