Part 1 Beginner Why long-term crypto holders borrow against assets instead of selling A strategic guide to liquidity management, capital preservation, and the real tradeoff between selling and borrowing crypto Open guide 
GBTC shares jump 10% in twelve days, narrowing discount to 40%
Grayscale Bitcoin Trust shares continue to face steep discounts.
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
Quick Take
- The discount for GBTC is currently a whopping 40%, following a fall as low as 50%, which was the most significant discount on record.
- GBTC trades at a premium when shares are changing hands at a higher price than the underlying BTC.
- Conversely, if GBTC shares are trading below the net asset value (NAV), GBTC is deemed at a discount.
- The current 40% discount would price Bitcoin at $12,794
- For more information on the GBTC premium trade, see our latest market report
