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While retail investors and other market participants use GBTC as a means to get exposure to bitcoin, some argue that the premiums paid to own shares outweigh the liquidity and security benefits that the trust is positioned to offer.
Bitcoin hit what was at the time a fresh high a couple of days later, on February 21st testing above the $58,000 level for the first time ever.
GBTC has not been making the same higher-highs that Bitcoin has, and for those that are looking for exposure into cryptocurrencies, this should be a factor of consideration as recent trends have not been great for that correlation.
Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.