Why Shares of Bitcoin Investment Trust Plunged Today [The Motley Fool]
GRAYSCALE BITCOIN TRUST (GBTC)
NASDAQ:AMEX Investor Relations:
grayscale.co/bitcoin-investment-trust
Company Research
Source: The Motley Fool
The real surprise is that shares only dropped by 10% after a 12% decline in bitcoin over the weekend. Jordan Wathen ( TMFValueMagnet ) Jun 11, 2018 at 3:13PM What happened Shares of Bitcoin Investment Trust ( NASDAQOTH:GBTC ) are taking a bath today, down by roughly 10% as of 1:30 p.m. EDT, after the value of its underlying bitcoins (BTC-USD) declined over the weekend. As the only quasi-bitcoin ETF available for purchase through a traditional brokerage account, the trust remains one of the easiest ways for speculators to bet on bitcoin's ups and downs. So what Bitcoin is inherently illiquid, and relatively small changes in supply and demand have a pronounced impact on its price. Data from online cryptocurrency exchange GDAX suggests that a sell order sized at roughly $50 million could send bitcoin plunging by nearly 60%. A similarly sized
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