GBTC - Grayscale Bitcoin Trust
| Previous Close | 12.65 |
| Open | 12.81 |
| Bid | 0.00 x 0 |
| Ask | 0.00 x 0 |
| Day's Range | 12.70 - 12.91 |
| 52 Week Range | 3.66 - 17.40 |
| Volume | 1,495,356 |
| Avg. Volume | 5,159,188 |
| Market Cap | 2.25B |
| Beta (3Y Monthly) | N/A |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 8.35 |
- InvestorPlace
Stock Market Today: Breakout or Breakdown for Bitcoin?
It was a very quiet day in the stock market today, with the S&P 500 and Dow Jones Industrial Average finishing close to flat on Thursday.The SPDR S&P 500 ETF (NYSEARCA:SPY) fell 1 basis point, the SPDR Dow Jones Industrial Average (NYSEARCA:DIA) dropped 0.2% and the PowerShares QQQ ETF (NASDAQ:QQQ) rallied almost 0.2%.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWe've had a lot of news to digest lately, even though the stock market continues to chop around close to its high. The SPY ETF actually made a new all-time high on Thursday, albeit briefly.However, we've now seen significant moves in bonds, gold, high-growth tech stocks and have seen the S&P 500 break out of its August trading range. Further, investors heard from the Federal Reserve on Wednesday that it will cut interest rates. To top it all off, U.S.-China trade war headline risks are still possible.It's been a complex couple of weeks. It also has some investors wondering what asset class will make the next big move. Will it be bitcoin? Breakout or Breakdown for Bitcoin?Bitcoin bounced hard off its $9,600 lows today, but the charts do not look all that great. The cryptocurrency is below most of its major moving averages, with the exception of the 200-day. Worse though, it's making a series of lower highs as resistance squeezes it against support down near $9,360.This pattern is known as a descending triangle, a bearish technical setup where investors are looking for resistance to break the asset price below support. In this case, a break below $9,360 support could send bitcoin down to its 200-day moving average, currently near $8,000. * 8 Dividend Stocks to Buy for a Recession If bitcoin can hurdles its 20-day, 50-day and 100-day moving averages, as well as downtrend resistance -- which would require a move north of $10,500 presently -- then we have a breakout on our hands.The best setup for investors may be to wait and see which one comes first, and then place their respective trades. That's opposed to guessing whether it will breakout or breakdown.Investors can also trade bitcoin via the Grayscale Bitcoin Trust (OTCMKTS:GBTC), shown below. Movers in the Stock Market TodayMicrosoft (NASDAQ:MSFT) stock hit new all-time highs after the company announced a $40 billion buyback plan and upped its dividend by 11% to 51 cents per share. While the payout remains stubbornly low -- yielding just under 1.5% -- keep in mind that MSFT stock is up nearly 150% over the past three years. In 2019 alone, it's up about 25%.It continues to lead mega-cap tech in market cap too, now trading with a $1.1 trillion valuation.Tesla's (NASDAQ:TSLA) Model 3 received the top safety rating from the Insurance Institute of Highway Safety. That's the first of Tesla's four vehicles to receive the designation, if we're including the original Roadster.Airbnb says the company will go public in 2020 after earlier announcing that it generated $2 billion in revenue in the second quarter. While there were rumblings of a 2019 IPO at one point, there's little surprise this one isn't coming this year. The lackluster response from the public for Uber (NYSE:UBER), Lyft (NASDAQ:LYFT), Slack (NYSE:WORK) and certainly We didn't help matters.Roku (NASDAQ:ROKU) tumbled more than 13% on Wednesday and was set for another nauseating run on Thursday. In pre-market trading, shares were down more than 5% at one point. However, after the company announced several new streaming products, shares ended the day higher, climbing 3% on Thursday. Let's see if the recent lows can stick. Otherwise, this may just be a dead-cat bounce before more lows are made. Splitting Up?According to reports, AT&T (NYSE:T) is reportedly weighing whether to divest its DirecTV unit. This could come via spinoff or potentially a combination with Dish Network (NASDAQ:DISH). AT&T acquired the asset in 2015 for nearly $50 billion.The asset generates solid cash flow for AT&T, but with its bloated balance sheet and the continual loss of subscribers due to cord-cutting, DirecTV is a business that investors bemoan. AT&T has since said it's not considering the move, but shares still rallied roughly 1% on the day.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long ROKU and T. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Dividend Stocks to Buy for a Recession * 10 Companies Making Their CEOs Rich * The 7 Best S&P 500 Stocks of 2019 So Far The post Stock Market Today: Breakout or Breakdown for Bitcoin? appeared first on InvestorPlace.
- Investor's Business Daily
Bitcoin Price Jumps As Stock Market Dive Fuels Demand For 'Digital Gold'
The Bitcoin price rally took another leap Monday as an escalating U.S.-China trade war weighed on global stock markets, triggering a broad rally in cryptocurrencies.
- GlobeNewswire
Grayscale Selects Coinbase Custody as Custodian
Coinbase Custody will serve as custodian for Grayscale’s single-asset investment products and their underlying assets in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN),* Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC), including the public quotations available to all individual and institutional investors: Grayscale Bitcoin Trust™ (GBTC), Grayscale Ethereum Trust™ (ETHE), and Grayscale Ethereum Classic Trust™ (ETCG).
- GlobeNewswire
Grayscale Investments Study Reveals More Than a Third of U.S. Investors Are Interested in Bitcoin
Grayscale Investments, a global leader in digital currency asset management, today released “Bitcoin: 2019 Investor Study,” a first of its kind survey examining retail investors’ interests, perceptions, and misconceptions about investing in Bitcoin. The study, conducted by financial market research firm Q8, identifies the profiles and demographics of investors interested in the digital currency.
- Benzinga
7 Things To Know Before Investing In Bitcoin
Over the last three years, bitcoin has become a household word in the financial community. The cryptocurrency rose from an obscure curiosity within the tech world to a popular investment and topic of debate on Wall Street. Bitcoin was created in 2008 by a person or persons using the pseudonym Satoshi Nakamoto.
- GlobeNewswire
Grayscale Investments Releases Q2 2019 Digital Asset Investment Report
New York, July 16, 2019 -- Grayscale Investments, LLC, a global leader in digital currency asset management, today released its Q2 2019 Grayscale Digital Asset Investment.
- GlobeNewswire
Grayscale CEO Barry Silbert Mid-Year Update Investor Call Available for Replay
The mid-year update covers a range of topics surrounding the digital currency ecosystem, including historical price movements and flows, current trends, and perspectives going into the second half of the year. Grayscale Investments is the world’s largest digital currency asset manager.
- MarketWatch
These 2 chip stocks are breaking out on technical charts
OUTSIDE THE BOX Here are four stocks, two of them chip makers, that are moving on news and technical momentum. Advanced Micro Devices (AMD) jumped $1.11 to $33.15 on 61.2 million shares Tuesday. An analyst raised his target price on the stock as the company received favorable reviews this week for its latest PC chip and said some new products would be available worldwide.
- GlobeNewswire
Grayscale Bitcoin Trust Announces Resumption of Private Placement
Grayscale Investments, the sponsor (the "Sponsor") of Grayscale Bitcoin Trust (OTCQX: GBTC) (the "Trust"), today announced that the Trust will resume the private placement of its shares. The Trust’s investment objective is for the value of its shares to reflect the price performance of Bitcoin (based on Bitcoin per Share), less fees and expenses.
- GlobeNewswire
Grayscale CEO Barry Silbert to Speak on Investor Call on July 10, 2019
Grayscale Investments is the world’s largest digital currency asset manager. With a proven track record and unrivaled experience, we give investors the tools to make informed investing decisions in a burgeoning asset class.
- Benzinga
Why Bitcoin Tends To Make Bigger Moves On The Weekend
The weekend is typically a time for traders to take a breather and get their minds off the market for a couple of days. Volatility in bitcoin over the weekend is certainly no new occurrence. There are multiple theories as to why bitcoin has such extreme weekend moves, but big swings in prices are almost always driven to some extent by lack of liquidity.
- TheStreet.com
Bitcoin: A Trading Opportunity in an Asset With No Intrinsic Value
and some negative stories about the U.S.-China trade negotiations, the market continues to trade randomly in a narrow range. It has been a dull market lately with limited movement which has caused a number of traders to chase Bitcoin. Bitcoin fell sharply overnight for no specific reason which is a good example of what happens when you are trading something with no intrinsic value.
- MarketWatch
Bitcoin stages parabolic jump to near $14,000, surging 320% since December as euphoria sets in — again
The world’s No.1 cryptocurrency hit its highest level in about 17 months on Thursday, extending a month long rally.
- TheStreet.com
Bored Traders Prove Easily Lured by Shiny Coin
The market had some optimistic headlines to work with Wednesday morning about a possible U.S.-China trade deal, but it turned into a dull session. In a dull market traders will seek out some action in certain sectors.
- Motley Fool
Here's Why Bitcoin and Grayscale Bitcoin Trust Are Soaring Today
The cryptocurrency has risen by about $2,000 in one day.
- TheStreet.com
Here's How I'm Playing the Bitcoin Rally
The most difficult markets to trade are those that don't have strong emotions. That is what we have Monday morning as market players digest last week's gains and look ahead to the next set of potential catalysts.
- InvestorPlace
5 Funds to Consider for Bitcoin’s Resurgence
As has been widely reported, stocks tumbled in May with S&P 500 losing 5.67%. Indeed, riskier assets were not in style last month, but there was at least one exception: bitcoin. The largest digital currency by market capitalization surged 67% last month. After starting at $5,265 on May 1, bitcoin closed around $8,900 on May 31.Bitcoin's May performance is all the more impressive when considering U.S. regulators continue delaying decisions on ETFs linked to the cryptocurrency. Last month, the SEC again delayed a decision on the fate of a bitcoin ETF proposed by VanEck and fintech firm SolidX Management LLC.While data suggest a majority of investing Americans would prefer to access bitcoin via an ETF, the SEC is no hurry to approve a bitcoin ETF.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Bank Stocks to Leave in the Vault It could be a while before regulators give the greenlight for cryptocurrency ETFs, but here some funds that can investors involved with bitcoin. Grayscale Bitcoin Investment Trust (GBTC)Source: Shutterstock Expense ratio: 2%, per year, or $200 on a $10,000 investment.The Grayscale Bitcoin Investment Trust (OTCMKTS:GBTC) was one of the first vehicles using the fund structure to give investors exposure to bitcoin, but to be clear, GBTC is not structured as an ETF.GBTC, which represents fractional bitcoin ownership, "enables investors to gain exposure to the price movement of bitcoin through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping bitcoins," according to Grayscale.There are some drawbacks with GBTC, including an expense ratio that is well above the average fee found on ETFs -- or even actively managed mutual funds. Additionally, GBTC is currently closed to new investors, but interested parties should continue checking the fund's website because GBTC is periodically opened throughout the year.Finally, GBTC can often trade at significant premiums to bitcoin. Based on the fund's recent closing price, it reflects a bitcoin price north of $11,000, not the digital asset's true prices of just under $9,000. Grayscale Digital Large Cap FundSource: Shutterstock Expense ratio: 3%The Grayscale Digital Large Cap Fund, which debuted in February 2018, is an idea, albeit a pricey one, for investors looking for exposure to multiple digital currencies, including bitcoin."Grayscale Digital Large Cap Fund enables investors to gain exposure to the price movement of a diversified mix of large cap digital assets through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping digital assets," according to the issuer. * 5 Stocks Under $10 With Big Upside Potential The fund devotes 70% of its weight to bitcoin and also has allocation to ethereum, XRP, bitcoin cash and litecoin. This bitcoin spent its first year on the market available only to accredited investors (those investors with annual income of $200,000 or a net worth of over $1 million), but it is expected to become available to a wider audience. Amplify Transformational Data Sharing ETF (BLOK)Source: Shutterstock Expense ratio: 0.70%The Amplify Transformational Data Sharing ETF (NYSEARCA:BLOK) is a not dedicated bitcoin ETF. It actually does not hold any bitcoin. Rather, BLOK is a play on the blockchain, the digital ledger on which bitcoin transactions are stored. However, blockchain technology has myriad applications beyond the cryptocurrency space.This actively managed, thematic fund holds 52 stocks, including Internet, financial services, bank, software and semiconductor names. BLOK is also a global fund with over 56% of its weight allocated to companies from outside North America.There is a long-term case for BLOK because of the array of industries that adopting blockchain technologies. Blockchain is already being used across the financial services industry, in healthcare and in conjunctions with smartphones and mobile devices. It's also expected to be a cornerstone of connected devices and the Internet of Things theme.Give BLOK some credit, too. It may be showing some correlation to bitcoin because the fund lost just 2.50% last month as the S&P 500 slid 5.67%. ARK Innovation ETF (ARKK)Source: Shutterstock Expense ratio: 0.75%The ARK Innovation ETF (NYSEARCA:ARKK) is not a cryptocurrency ETF, but it merits a place in this conversation because, at one point, ARKK held a sizable position in the aforementioned GBTC. ARKK is an actively managed fund so it can move in and out of positions, meaning it is possible that the fund will eventually renew its bitcoin exposure.ARKK's managers deserve some credit for their crypto expertise. The fund surged in 2017 as digital currencies prices soared, but ARKK's management team trimmed its GBTC exposure in early 2018, just before bitcoin plunged.Companies found in ARKK include "DNA technologies, industrial innovation in energy, automation and manufacturing, the increased use of shared technology, infrastructure and services and fintech," according to the issuer. * 4 CBD Stocks to Buy for Mainstream Marijuana Profits Currently, ARKK's headwind is not bitcoin exposure or lack thereof. It is a 10% weight to Tesla Inc. (NASDAQ:TSLA). The Bitwise 10 Private Index FundSource: Shutterstock Expense ratio: 2.50% of assets under management.The Bitwise 10 Private Index Fund is the first crypto-based index fund and it holds the 10 largest digital currencies. Those assets are weighted by five-year diluted market values.The fund devotes nearly two thirds of its weight to bitcoin with ethereum and ripple combining for 20.10% of the fund's weight. Assets in the fund are rebalanced on a monthly basis and the minimum investment is $25,000."Assets are held in 100% cold storage, audited annually, and purchased across several liquidity providers to seek best execution," according to Bitwise. "Bitwise actively evaluates network opportunities including hard forks, airdrops, staking rewards, super- and master-node rewards, and emissions, and captures available benefits for fund investors where appropriate."For the three months ending April 30, the fund returned 47.40%.Todd Shriber does not own any of the aforementioned securities.Compare Brokers The post 5 Funds to Consider for Bitcoin's Resurgence appeared first on InvestorPlace.
- Benzinga
Yusko: Bitcoin Is 'Actually Quite Easy To Value'
Mark Yusko, CEO and Chief Investment Officer of Morgan Creek Capital Management, joined Benzinga’s PreMarket Prep trading show on Wednesday morning. Yusko discussed the recent rally in bitcoin, which has sent the Grayscale Bitcoin Trust (OTC: GBTC) up 10.5 percent in the past two weeks. Metcalfe’s Law is a formula used to calculate the value of computer and telecommunications networks that states that a network’s value is proportional to the square of its users.
- GlobeNewswire
Grayscale Investments Announces Approval of Public Quotation for Eligible Shares of Grayscale Ethereum Trust
New York, May 23, 2019 -- Grayscale Investments, LLC (“Grayscale”), a global leader in digital currency asset management, today announced that common units of fractional.
- Benzinga
Bitcoin Gets '60 Minutes' Bump
CBS’s “60 Minutes” featured an in-depth story by Anderson Cooper about bitcoin on Sunday night. After a disastrous 2018, bitcoin prices have rebounded so far in 2019 but remain well below their all-time ...
- Motley Fool
Here's Why Grayscale Bitcoin Trust Is Soaring Today
Cryptocurrencies are staging quite a comeback.
- Investor's Business Daily
Bitcoin Price Surges Past $8,000, But FOMO Rally Fades
Bitcoin price spiked past $8,000 intraday, but Bitcoin and most other cryptocurrencies and Bitcoin-related stocks erased gains or turned lower.
- Benzinga
Here's What Happened Last Time Bitcoin Approached $10,000
After a brutal price crash in 2018 dropped bitcoin prices from near $20,000 to below $3,400, bitcoin has come roaring back so far in 2019. Bitcoin prices have only been above $10,000 two other times. In that instance, bitcoin prices ripped through $10,000 and hit its all-time high of $19,783 within roughly a month’s time.
- Motley Fool
Bitcoin Doubles in 2019 -- Is Crypto-Mania Back?
Bitcoin and other cryptocurrencies have been soaring. What is behind the rally?
