Published by
Benzinga
Benzinga
Deep Knowledge Investing originally recommended buying Bitcoin and the Grayscale Bitcoin Trust (OTC: GBTC) in late 2020 when Bitcoin was around half the current price. In June, when Blackrock, Fidelity, and several other huge institutional firms filed for Bitcoin ETFs (Exchange Traded Funds), we bought more $GBTC and re-recommended the position. Our thinking on that matter was that Blackrock and Fidelity were filing the ETF application because they thought it would be approved. We believe that if these firms succeeded in getting SEC approval for a Bitcoin spot ETF that the Grayscale applicatio…