GBTC PREMIUM TO NAV WITH ACTUAL BTC PRICE OVERLAYEDGBTC PREMIUM IS GREATEST WHEN BTC PRICE IS RIPPING AND GBTC PREMIUM IS LOWEST WHEN BTC PRICE IS TANKING. GBTC TAKES THE SENTIMENT SHIFTS IN EUPHORIA AND DESPAIR AND EXACERBATES THEM, AS IT REPRESENTS A LESS SOPHISTICATED SECTION OF THE MARKET WITH LESS INVESTMENT RESOURCES. IF ONE BUYS ON A BTC PRICE DIP WHERE THE GBTC PREMIUM TO NET ASSET VALUE CLOSE TO 30%, THE EUPHORIA THAT IS LIKELY TO FOLLOW WILL SERVE AS A STRONG TAIL WIND IN THE FORM OF A WIDENING PREMIUM AS THE UNDERLYING PRICE INCREASES. MAY BE EVEN BETTER TO BUY GBTC THAN BTC ON DIPS DESPITE ABSURD PREMIUM, PARTICULARLY IF THERE IS NO BITCOIN ETF IN THE CARDS FOR THE NEAR FUTURE. ASSUMING DISCOUNT TO NET ASSET VALUE IS UNLIKELY AND 100% PREMIUM TO NET ASSET VALUE IS POSSIBLE, RISK/REWARD FAVORS BUYING AT UNDER 30% PREMIUM TO NET ASSET VALUE
