5min chapter

Coin Stories with Natalie Brunell cover image

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

Coin Stories with Natalie Brunell

CHAPTER

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.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode