Re: SecondMarket Bitcoin Investment Trust Observer

Make it happen Barry and I'm not talking about Barrack O. At some point soon this SM has to give us a boost.

It will be interesting to see if it does give the market a boost or not.
I know they are buying way way above market rate, but whether the market catches up with their price, or their price falls down to the market price will be the next important piece of information for us after it goes live.

I think there might be a meeting in the middle, with about $290-300 being re-tested.

I guess many people holding shares there may not be willing to sell at current spot prices, because they mostly (if not all) bought at higher prices. If you want to trade price swings, you're better of using one of the regular exchanges!

they could sell and buy instead at coinbase etc. that would 100BTC->150BTC

Yeah, that's what some of them just might do, actually. But I guess there's a reason why they invested in GBTC shares, rather than buying the coins directly: They like the type of investment vehicle, with all its disadvantages and advantages. And that's the very reason they may just stay in that vehicle!

yes of course there is a reason. nevertheless it depends solely on the BID. if the bid is high enough and the difference therefore big enough sellers will come.

i expect them to ask 400. and i expect those 400 will be paid.