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So in a sense they are all the same, at least for now. If Bitcoin matures even more and becomes a separate asset class, then it can be considered separate from crypto, but not currently.👍 1Comment
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I'm not sure if the above is true but I smell smoke.👍 1Comment
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There has been chatter on twitter about BlockFi having liquidity issues during the recent tech sell off and subsequent GBTC negative premium. Apparently BlockFI's business model was to swap bitcoins for GBTC shares at NAV (with 6 month lockup) and then sell GBTC shares at premium on the secondary market. The loss of the premium could be dangerous for them. They've shut down new account signups but they're denying that it has anything to do with GBTC at this point.
I'm not sure if the above is true but I smell smoke.
“could be dangerous” and “I smell smoke” sounds short sighted. That’s the type of stuff that shakes out weak hands, which is fineComment
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Blockfi is a company that may or may not make it. I believe they have a good business model and they could likely do very well over the next 10-20 years. But they are young in their lifecycle. They could also fail and this bump in the road may be just a small speed bump, or it could be the canary in the coal mine. Difficult to say. hodlhodl is another company that could do very well or fail going forward. They have a similar but more conservative concept.
There are many companies that will evolve from Bitcoin space. But picking winners and losers at this time is difficult.Comment
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