Why Bitcoin Investment Trust Stock Surged on Wednesday [The Motley Fool]
GRAYSCALE BITCOIN TRUST (GBTC)
NASDAQ:AMEX Investor Relations:
grayscale.co/bitcoin-investment-trust
Company Research
Source: The Motley Fool
Shares of the trust are rising faster than bitcoin today. Jordan Wathen ( TMFValueMagnet ) Feb 14, 2018 at 3:51PM What happened Shares of Bitcoin Investment Trust ( NASDAQOTH:GBTC ) are up about 13% as of 2:45 p.m. EST. The cryptocurrency rallied in early trading today, so investors eager to hop on board are driving the trust's stock price up higher and faster than the value of the bitcoin it owns. So what Each share of Bitcoin Investment Trust represents ownership of approximately 0.001 bitcoin , thus one must own approximately 1,000 shares to effectively control one bitcoin. At the current market price of $16.28 per share, Bitcoin Investment Trust implies a market value of roughly $16,163 per bitcoin. Image source: Getty Images. On digital currency exchanges, bitcoin trades at a lower price -- for approximately $9,274 each on GDAX.
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