May. 06, 2022
I am writing express the important of GBTC converting to an ETF which tracks the price of Bitcoin, eliminating discounts and premiums. Digital assets are not new, and have been around for a very long time. Bitcoin has brought attention to the popular culture concept of an asset being digital. And, as a result has been scrutinized due to it’s volatility. But, it’s volatility has lessened the longer it has been in existence. Many people believe it is harder to trace than fiat money. Thanks to the block chain, it is actually easier to track and freeze. Converting GBTC would allow US customers access to a more level playing field and invest in an ETF that tracks the price of Bitcoin, without the need for buying BTC directly which can be complicated and is much less safe — it is less safe to own BTC directly ONLY because the mechanism needed to do so is not safe (mobile phone app, crypto scammers, etc). They don’t steal GBTC, they are looking for people who have low security settings who are invested in BTC directly. So, the GBTC vehicle will offer a safer way to invest in the future, and that’s all at that any investment is - the future. Thank you for reading, Jon