Sunday, December 4, 2022
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Fiat Currencies Face The Similar Destiny As The FTX Fiasco – Bitcoin Journal

It is a recording of a current Twitter Areas with the Bitcoin Journal Professional group and Mark Moss to interrupt down the FTX implosion and the way it pertains to the worldwide macro setting.

Pay attention To This Twitter Areas:

Dylan LeClair: With reference to GBTC, one of many issues that I noticed, which makes complete sense, I’d by no means considered this: The price is 2% of NAV (internet asset worth). So Mark, you have been throwing out a 3-4% price quantity there. One of many issues that I by no means noticed mentioned as soon as this factor turned from a premium to a reduction, is that it’s 2% of NAV, but when it’s buying and selling at a, say, 50% low cost to NAV, you’re paying a 4% price. If it’s at a extreme low cost for some time, you’re taking fairly the churn. It will get really much less engaging. Properly, it’s engaging due to the upside. And the Bitcoin value equal of GBTC proper now could be $9K. So if it returns to par, you do fairly properly. What we’ve got to ask is that conversion ever coming to an ETF? What’s the actual incentive from a authorized perspective for them to do.

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