Is Bitcoin Investment Trust Driving a Price of Bitcoin?

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Leading blockchain organisation Digital Currency Group’s devoted digital banking investment management Grayscale launched a rarely expected Bitcoin Investment Trust (GBTC) in March, permitting investors in a open markets to trade bitcoin publicly.

Operating underneath a ticker GBTC, any share of Bitcoin Investment Trust represents one tenth of a bitcoin, guaranteeing a certain volume of bitcoin per share owned by an investor. Upon a launch, a shares of GBTC surged to US$32 per share, imprinting a 10.92% boost in only a few days, as a daily volume augmenting by 10 times.

Due to an augmenting series of occurrence reports of hacking attacks and information breaches on bitcoin exchanges such as Bitstamp, some-more vestors and high-profile traders begun to squeeze bitcoins by Bitcoin Investment Trust as it provides a certain turn of word bitcoin exchanges destroy to provide.

Since Mar of 2015, a share cost of Bitcoin Investment Trust has doubled and is now valued during US$63 per share, suggesting that traders and institutional investors in open markets are trade bitcoin during around US$630 per coin.


Recognizing a estimable expansion of Bitcoin Investment Trust and a rising popularity

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