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2021-03-05 13:32:41

Bitcoin roundup: Goldman survey, Microstrategy buys the dip, Grayscale discount widens

Bitcoin (BTC-USD) overnight fell as low as $46.5K after having climbed to nearly $51K earlier in the day. The selloff in crypto came alongside some panicky action in the stock market, and rising bond yields. Prices have recovered a bit, with bitcoin currently changing hands at $47.8K.Goldman Sachs surveyed its clientele, finding 40% have exposure to cryptocurrencies, with 61% of that group expecting to boost their holdings in the next 12-24 months.Nearly one-quarter of respondents predict the price of bitcoin will be over $100K in one year.Meanwhile, Microstrategy (MSTR) bought yesterday's dip, announcing the purchase of 205 bitcoins for $10M at an average price of $48.9K each. That's but a pittance compared to total company holdings of 91K bitcoins purchased at an average price of $24.1K each.The Grayscale Bitcoin Trust (GBTC) now trades at more than a 10% discount to its underlying NAV - its widest-ever discount as other competitors

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