I thought I would write an article about bitcoin because it might be valuable to go over what happened. I bought some bitcoin in 2017 and made some money with it. In fact, percentage wise it is the best trade I have made in the past few years. However, I still think I messed up […]
Today’s trading edge is to go short GBTC stock (ticker symbol for the GBTC Investment Trust) and go long bitcoin in order to profit from the substantial spread between the two products. This spread is predicted to close once Bitcoin futures go live on the CBOE and CME futures exchanges in a few days time.
A reader asked what my thoughts were on bitcoin and what kind of strategies I would recommend to trade this type of market. I don’t want to get dragged into an opinion piece but I will say that there seem to be an incredible number of amateurs involved in bitcoin which could end badly.