BITCOIN NEWS-Grayscale Liquidation Cause Bitcoin Armageddon #gbtc

The FTX Contagion effects do not even stop at the largest institutional Bitcoin product on the market, the Grayscale Bitcoin Trust (GBTC). As a result of the bankruptcy of Sam Bankman-Fried’s crypto exchange, the discount to the NAV of Grayscale’s GBTC fund has fallen to around -40% @LIKEDCRYPTO

GBTC’s largest owners include Cathie Wood’s ARK Invest (0.85%), Horizon Kinetics (0.34%), Simplify Asset Management (0.06%) Systelligence (0.04%), Parkwood (0.04%), Emerald Mutual Fund (0.03%) and Rothschild Investment (0.01%)

The Grayscale Bitcoin Trust currently holds 634,000 BTC. The Terra Luna Foundation “only” liquidated 80,000 Bitcoins, and still managed to crash the BTC price from $40,000 to $20,000.
#bitcoin #bitcoinnews #grayscalebitcointrust #grayscaleliquidation