Some members have sent in questions. In response:
1) GBTC is the ETN that tracks the price of bitcoin. The correlation is not always 1:1 thus one may wish to buy bitcoin on a bitcoin exchange instead. How to do so is beyond the scope of this website. Google for instructions if you wish to do so.
2) The GBTC report is no different than any other report we send on stocks. When we send out a report, it is never a buy recommendation but merely what we are observing in real-time. A pocket pivot was observed on GBTC in yesterday's market action. Given the picture of where bitcoin stands, a report on GBTC was warranted.
3) GBTC has nothing to do with removal of trust / middle men. GBTC is merely a trading vehicle that tracks the price of bitcoin. The blockchain technology has the capability of doing this. If you wish to learn more, google keywords such as 'trust' 'bitcoin' 'blockchain' 'middle man'.
4) Decentralized exchanges (for stocks, goods, services, etc) are already in place via some cryptotechnology ICOs. They are embryonic, just as how the internet was new to the world back in the early to mid-1990s.
5) Cryptocurrencies/cryptotechnologies are beyond the scope of this site, at least for now. If you wish to learn more, a good place to start is www.coindesk.com, or just google keywords. When in doubt...
GBTC / Bitcoin Points
| Published: | 31 Oct 2017 09:18 ET |
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.