What people don’t talk about a ton on here is the very real chance that the losses Genesis suffered may cause ~680k BTCs to be liquidated.
People sometimes say that the grayscale trust discount is a way to buy bitcoin in a IRA and at a discount at that!
Genesis’s parent company, DCG already bailed them out when they lost 1.5b to 3AC. So their tapped out and may go bankrupt. Why is this important? DCG also owns grayscale. They are also trying to sell 20% of it now. If all of grayscale goes to liquidation (will happen in a bankruptcy) then the crash will be far worse than in July when about 80k BTC was liquidated..
Not financial advice
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