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Sam Callahan: What You Need to Know About GBTC and the Crypto Contagion

Coin Stories

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Will DCG Liquidate GBTC?

DCG owns 10% of the total GBTC supply as they've just continuously been accumulating shares to try to bolster up the discount. They announced a pledge to buy $1 billion with the GBTC shares in November 2021 and then DCG raised $700 million two weeks later in an equity round at a $10 billion valuationjust to start repurchasing its own shares. And so now the largest shareholder of GBTC isn't BlockFi, BlockFi owns zero now after they kind of fell apart and rear was capital as well.

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