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Why You Aren't Bullish Enough on Bitcoin w/ Mike Alfred

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How Much Discount Is 20 % on Bit Coin?

There's no mechanism to kind of redeem the underlying collateral essentially. There's enough doubt about when and how that trust converts. I think as a value invester, it's a pretty easy thing to ownh but i can't make any predictions on when it's going to convert. If it takes two years, i still think you you'll get decent value not owning it here. But iwuld prefer to see it happen in the next year or so.

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