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Is Grayscale Bitcoin Trust (GBTC) Stock a Buy For 2021?

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·3 min read
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Tao Value recently released its Q4 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 26.43% for the quarter, outperforming its benchmark, the MSCI All Country World Index (ACWI) which returned 14.4% in the same quarter. You should check out Tao Value's top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q4 2020 Investor Letter, Tao Value highlighted a few stocks and Grayscale Bitcoin Trust (NYSE:GBTC) is one of them. Grayscale Bitcoin Trust (NYSE:GBTC) is an investment vehicle that enables investors to gain access and exposure to Bitcoin in the form of a security without the challenges of buying, storing, and safekeeping Bitcoin directly. In the last three months, Grayscale Bitcoin Trust (NYSE:GBTC) stock gained 104.5% and on January 25th it had a closing price of $33.05. Here is what Tao Value said:

"GBTC is a new “Opportunistic” position. As a long-term holder of Bitcoin (from November 2013 to date), I saw it as a great social experiment and now on the cusp of institutionalization. In short, I see money as a trust-based ledger of energy and information debt which is designed to be repaid by others. I also think certain part of humanity’s energy & information debt will be stored in good money, for which Bitcoin has established itself as one important form. Below low of the year price table (or think it as the “bubblefree” value) tells this message, more specifically, we see the price after each “bubble” (highlighted 2013 & 2017) remained at an elevated level, a sign of increased trust & adoption."

Our calculations showed that Grayscale Bitcoin Trust (NYSE:GBTC) isn't ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:

Disclosure: None. This article is originally published at Insider Monkey.