Grayscale investment BTC trust outperformed gold, dollar, oil, S&P 500 and bitcoin itself
During the same period, the price of bitcoin rose from $ 3,366 to $ 10,900, or 223%. Superiority of GBTC over BCT is explained overpayment, which have to cover investors, eschewing investments in unregulated assets.
Forbes compares GBTC’s performance with others assets, in Tom including gold, oil, dollar USA and the index S&P 500 including your composition 500 chosen American public companies. It turned out that GBTC bypassed their of all, despite what happened in the last days drop by 15%.
“GBTC, which is close enough tied to bitcoin, showed a return of 341%, writes Forbes. – What comes second? You could feel quite comfortable, if would have invested in oil. Despite the turmoil of recent weeks, her rate rose on 12.8%. Per the same period S&The P 500 is up 8.5% and gold is up 7.7%. “.
By words analytics, GBTC growth began to be traced yet at the end of the past of the year: then trust shares traded below $ 4, after why rose a little , but faded in January and reached lows in February. “In technical analysis, this pattern is called a double bottom. It is assumed that market there was a chance to go lower, but of this Did not happen”, – writes the author, adding that the volumes trades in that the same day jumped 12.5% and marked the beginning of a new phase of growth.