Bitcoin Cash Trade Idea

in bitcoincash •  4 years ago 

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Grayscale Bitcoin Cash Trust Trading at a 500% Premium!

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Grayscale Bitcoin Cash Trust (BCHG) is a trust that holds Bitcoin Cash and is tradeable on the stock market. However, they are now trading at a MASSIVE 500% premium to their net asset value, or NAV.

As you can see in the picture above, they have 31,775,600 shares outstanding and the price closed for the day at 21.75.

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Well, multiply the shares by the price and you get $691,119,300.

The trust holds .00926090 BCH coins per share. That's 294,270 coins. With Bitcoin Cash trading at about $500 per coin, that is a value of just over $148 million!

They will soon be forced to create and SELL BCHG shares and buy up to $500 million worth of Bitcoin Cash. Bitcoin cash is around a $10 billion market cap - so they will have to buy up to 5% in a short period of time when they reorganize their assets.

This could send BCH from $500 to $800-$1000 or higher in short order.

It's already attracting the attention of some very well-known names.

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October 23, 2021... 18.1 Hollywood Time...