Last night, NIA sent out an alert saying, "If there is real demand for Bitcoin ETFs, why wouldn't people have already bought Grayscale Bitcoin Trust (GBTC)? It was still trading at a 6.53% discount below NAV as of today's close. When GBTC converts into an ETF tomorrow, we assume this discount will go away and GBTC owners will begin to finally dump their shares."
GBTC was initially up by 7.40% this morning as the discount went away and now the dumping has begun and GBTC is down for the day.
On December 26th, with Marathon Digital (MARA) at $26.71 per share, NIA sent out an alert saying, "Marathon Digital (MARA) closed Friday at its #1 most overvalued share price in history. When MARA closed at its #2 most overvalued share price in history on July 13th, MARA declined by 59.07% and Bitcoin declined by 20.07% over the following 90 days."
MARA hit a high of $29.18 per share this morning but has since crashed by 27.28% from this morning's high to a current price of $21.22 per share.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. This message is meant for informational and educational purposes only and does not provide investment advice.