The Bitcoin community across the world is currently witnessing the rise of Bitcoin for the second consecutive week now. Bitcoin price has increased by from somewhere around $450 per bitcoin to close to $600 per bitcoin in the past two weeks. The upward movement of bitcoin value has increased confidence on the digital asset among investors.
The increased confidence is not only visible in the trade volumes of the digital currency across various exchanges but also in the current demand for bitcoin liked assets. One of the well-known bitcoin-linked asset, GBTC which happens to be the share of Greyscale Venture’s Bitcoin Investment Trust has seen a significant increase in the value, thanks to the surging bitcoin price. According to market data, the value of one bitcoin, based on the underlying bitcoin per share ratio stands at around $933.50, which is 60 percent higher than the actual market rates of bitcoin.
The current value of GBTC signifies the willingness of investors to bet heavily on the digital currency which has had its ups and downs in the past and known for its price