The Grayscale Bitcoin Trust (GBTC) is trading at a premium, which works out to a Bitcoin price of almost $15,000 – indicating that further gains are imminent.
‘Big Money Coming In’ Via GBTC
Data from Grayscale’s recent performance placed it trading at $14.64 as of June 24. At these levels, investors are working with a Bitcoin price of $14,640.
The premium, which amounts to around 30 percent, is not new but has increased significantly as Bitcoin cements its position in the latest three-month-long bull run.
At one point, GBTC traded above $15 at a 40 percent premium, leading to suggestions that substantial upward market moves were still on the horizon.
“Big money coming in!” one popular online trader summarized on Monday linking to the data.