WTF Chart Of The Day: Bitcoin Trust Spikes On Stock-Split

With Bitcoin prices down around 5% overnight and unchanged from Friday’s close, shares of the Grayscale Bitcoin Investment Trust are up 8% this morning following news of a 91-for-1 stock split

GBTC is surging on nothing more than a stock-split…

Sending GBTC’s implied price for Bitcoin to over $17,600 – a 55% premium to the underlying price!

WTF!

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