DIAMOND009
01-15

$Grayscale Bitcoin Trust(GBTC)$ Bitcoin miners are setting up their own OTC trading desks to legally sell the Bitcoin that they mine directly to those buying Bitcoin for the ETFs. With the halving coming up there will be less and less Bitcoin available, especially after the GBTC selling subsides in the coming week after IRA holders have finished switching to new ETFs. Also, professional financial advisors are just beginning to hear that they have the green light to convince their clients to move into these Spot Bitcoin ETFs, and that will also drive-up demand for Bitcoin, making it increasingly scarce. I still maintain that for the Bitcoin miners to be healthy that they need a much higher Bitcoin price with the halving only 3 months away when the number of their mined Bitcoin will be cut in half.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment