Grayscale’s dropping BTC premium is sounding alarm bells for investors and traders alike. Alarm bells isn’t an understatement, especially since the premium plummeted to 2% from about 30% back in December 2020. What does this mean? Well, the premium may have been the only motivation for institutions to invest in GBTC, and not Bitcoin.
This irrational motivation and market were explored by Peter Schiff during a recent talk. Drawing a parallel between Bitcoin and Gamestop, Schiff highlighted the red flags in Michael Saylor’s argument for buying Bitcoin using cash from the balance sheet of instit