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| June 23, 2018

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Court: ‘In God We Trust’ on Money Is Constitutional

June 5, 2018 |

A federal court has ruled that printing “In God We Trust” on US currency doesn’t amount to a religious endorsement and therefore doesn’t violate the US Constitution. The Chicago Daily Law Bulletin reports the 7th US Circuit Court of Appeals in Chicago made the ruling in a lawsuit brought by…
Newser

Trust Token Blames Bots for Volatility of Trueusd Stablecoin

May 18, 2018 |

Trust Token Blames Bots for Volatility of Trueusd Stablecoin

On Wednesday Trueusd, a stablecoin designed to be pegged to the US dollar, experienced a sudden bump in price after Binance announced support. The news caused Trueusd (TUSD) to rise by an unprecedented 40% before eventually subsiding. Trust Token, the coin’s developers, have now explained to news.Bitcoin.com how this sequence of events came to be.

Also read: “Stablecoin” Trueusd Pumps After Binance Listing

Trueusd and the Moon Mission That Wasn’t Meant to Be

As reported on Thursday, TUSD pumped to $ 1.39 off the back of news that Binance would be listing the supposed stablecoin. Binance has since postponed its listing of the token, pushing the event back by a few days “to prepare for sufficient liquidity”. Trust Token, for its part, has responded to the incident in a blogpost, writing:

TrueUSD saw a large, sudden increase in demand after Binance first announced that they are listing TUSD. We believe that bots (and some misinformed traders) purchased TrueUSD as soon as the announcement was made.

The post continues: “Generally, our policy is that “redeemability leads to stability.” The value of a TrueUSD token is that it can be redeemed for one US dollar. There will only be as many tokens in circulation as there are dollars in the escrow account to collateralize the tokens. In the long run, this feature precedes price stability, since the price will return to $ 1.00 (as it did today) as long as the token continues to be redeemable.”

Trust Is Earned

Bittrex Adds Tether Competitor TrueUSD as Regulation Rumors PersistAs a piece of parting advice, Trust Token advises traders not to pay any more than $ 1.05 per token, otherwise “you may lose money.” Trust Token’s co-founder and CTO Rafael Cosman spoke to news.Bitcoin.com to clarify some of the issues raised in the blog post, and pointed out that when TUSD was listed on Bittrex in March, traders were issued with the same advice – not to pay more than $ 1.05 per token.

Assuaging concerns that TUSD could dip discernibly below $ 1, Rafael Cosman said:

Price stability is maintained by market-making incentives. Today, market-makers buy TrueUSD for $ 1.00 directly from the bank, anticipating that if the price hits even $ 1.01 they can arbitrage some profit. The opportunity for redemption incentivizes market-makers to keep at $ 1.00 and not below: if the price was to dip to $ 0.99, then market-makers could buy it and redeem it for $ 1.00. Market-makers would quickly scoop in and buy all the “sell” orders for below $ 1.00 until none were left and the price returned to $ 1.00.

Bot or Not?

Trust Token Blames Bots for Volatility of Trueusd StablecoinFollowing up on claims that bots were to blame for TUSD’s sudden price spike this week, Rafael Cosman added: “It’s fairly common knowledge in the crypto industry that there are bots that “listen” for announcements of coins listing on exchanges and buy any coin as soon as it is listed on a new exchange. This is usually profitable, since more buyers for a token can mean a higher price. However, in the case of Trueusd, any person who knows that the token is redeemable for $ 1.00 knows they will lose money if they buy it for more, and so market-makers holding Trueusd happily sold it to bots for above $ 1.00 until there was no more demand.”

Stablecoins are still highly experimental at this stage, and while some “stable bears” believe perfect dollar parity will never be reached, others are confident that anomalies such as that which befell TUSD will be ironed out in time. As Trust Token acknowledged, even “the most stable of stablecoins will occasionally experience variance.”

Do you think occasional volatility is inevitable with stablecoins? Let us know in the comments section below.


Images courtesy of Shutterstock.


Need to calculate your bitcoin holdings? Check our tools section.

The post Trust Token Blames Bots for Volatility of Trueusd Stablecoin appeared first on Bitcoin News.

Bitcoin News

PR: Utrum to Launch Innovative Blockchain Platform Solving Trust Problems for Crypto Investors

April 25, 2018 |

Utrum to Launch Innovative Blockchain Platform Solving Trust Problems for Crypto Investors

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Utrum, a decentralized community platform with reputation-based quality reviews of crypto projects and assets, has announced its public token crowd sale to launch May 10, 2018. Utrum will offer OOT, a Privacy Coin and the utility token of the Utrum ecosystem. The crowd sale is the second ever dICO (decentralized Initial Coin Offering) and is being launched on the Komodo Platform (KMD). Komodo is the world leader in Atomic Swap technology and this technology will be utilized in the Utrum dICO App, allowing participants to invest in the ICO in a unique “wallet-to-wallet” transaction, receiving OOT immediately in exchange for their investment with no third-party intermediary.

A grassroots project, Utrum was born out of a Komodo Slack conversation between a few cryptocurrency investors. Founder and Project Lead for Utrum, Sridhar Panasa, had observed the multitude of scams, misinformation, and chaos plaguing the crypto-investment community at large. Having previously run a Threat Intelligence company, Sridhar has a habit of looking at new technologies from a strong security perspective.

“I saw members running around from telegram groups to facebook groups trying to get info about investments…” said Sridhar Panasa, Utrum’s Founder and Project Lead. “There was no clear authority or means by which to sort through the noise. One day I got this idea. How can we stop scams from happening and identify the quality information about cryptos? I brought the idea up to Komodo’s lead developer JL777 and he created a slack channel for us in Komodo’s slack. There I began discussing with Chris (Chris Maarseveen) and Gürkan (Gürkan Aygörmez), and the three of us have been working on the project ever since.”

Cryptocurrency is one of the highest risk markets in which to invest…and arguably the most accessible to anyone. With the increasing difficulty for investors to adequately distinguish between the good and the bad in crypto investing, many well-meaning investors have lost everything in their attempts at supporting the growth of this technology.

Utrum believes that by developing an Artificial Intelligence backed, a community-driven platform which rewards users for their help in reviewing, rating, analyzing and predicting crypto projects, assets, and teams, these problems can be solved. Through the use of blockchain, Utrum is creating an ecosystem of supportive and educational guidance for investors of all caliber, as well as a marketplace for projects and providers to showcase to a targeted investment-rich community. Utrum will also implement community-voted moderators whose job it is to help regulate and manage the ecosystem according to community governance.

The platform utilizes a new token, called OOT, which is used for various utilities and transactions within the community and marketplace, and which will be available on cryptocurrency exchanges in the future. Users who write reviews, perform analysis, and participate in rating crypto-projects or assets, are rewarded OOT based on their activity and reputation within the community.

Utrum has a diverse and growing team of individuals passionate about creating a safer and more rewarding platform, helping users become smarter crypto investors, helping good projects gain visibility and helping the larger crypto-community. The team brings over 30 years combined experience in business development, technology, security, and community management.

This new crypto startup is poised and passionate about developing a powerful community platform for crypto projects, developers, analysts, newbies, and investors to gain access to quality information and reviews. If you’d like to learn more about Utrum, visit their website to read more and join the conversation.

Token Sale starts on 10 May with 30% Bonus

https://utrum.io/tokensale

Utrum – Your Crypto Playbook Intro Video

https://www.youtube.com/watch?v=o5K0J7JIJbw

Advisors

James Lee, AKA “JL777”, is the Lead Developer of Komodo Platform, a leader in Privacy, Decentralization, and Development with a market cap of over $ 500 Million. He is a strong advocate of privacy and liberty in its true essence. He is the pioneer of decentralized ICOs (dICO) which he developed to curb “whale manipulation” within crowd sales. His brainchild is BarterDEX, a fully functional decentralized exchange, powered by atomic swaps and electrum servers. He also developed the Komodo privacy coin using zk-snarks and Jumblr for anonymity, and innovated dPOW (delayed Proof of Work) which gives Bitcoin security to Komodo and its asset chains.

Investors

SuperNet is one of the largest Crypto Investment Funds with a portfolio worth 10,000 BTC recently purchased 1% of OOT (Utrum Token) total supply in a private sale.

Contact Email Address
press@utrum.io
Supporting Link
https://utrum.io

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Utrum to Launch Innovative Blockchain Platform Solving Trust Problems for Crypto Investors appeared first on Bitcoin News.

Bitcoin News

16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan

April 24, 2018 |

16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan

The new Japanese cryptocurrency association comprising of sixteen government-approved exchanges debuted on Monday. The group has unveiled its plans to spearhead self-regulation in order to rebuild the public’s trust in the crypto industry.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

New Japanese Association Debuts

Sixteen fully-licensed cryptocurrency exchanges in Japan have formally launched a new crypto association. The group held a press conference on Monday to detail its plans for self-regulation “in order to rebuild public trust battered by a high-profile theft,” Nikkei reported.

16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan
Press conference held by the new Japanese cryptocurrency association.

“The organization is expected to release trading and disclosure rules this summer,” the news outlet elaborated, adding that the group “plans to open its doors to those operating provisionally while the government watchdog reviews their applications.”

16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan
Taizen Okuyama.

The founding exchange members are Money Partners, Quoine, Bitflyer, Bitbank, SBI Virtual Currencies, GMO Coin, Bittrade, Btcbox, Bitpoint Japan, DMM Bitcoin, Bitarg Exchange Tokyo, FTT Corporation, Bitocean, Fisco Virtual Currency, Tech Bureau, and Xtheta.

The group also held its first board of directors meeting and chose its key executives. President of foreign exchange platform provider Money Partners Group, Taizen Okuyama, was appointed the chief of the new organization. The publication quoted him declaring:

We’ll pursue self-regulation to further the market’s healthy development and allay uncertainty among cryptocurrency users.

Three Priorities Named

The group will focus on three priorities, the news outlet detailed. The first, as expressed by Okuyama, is the protection of customers. While the Japanese law “requires exchanges to manage customer assets separately from their own,” he admitted that “such a standard is a matter of course for securities firms and foreign exchange brokerages. Compliance has been patchier among cryptocurrency exchanges.”

Another priority is to ensure “an orderly rule-making process,” he described, citing as an example the issue of “leverage limits for margin trading and management of insider information, including what currencies a given exchange plans to start supporting.”

16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan
Founding members of the new Japanese cryptocurrency association at the press conference on Monday.

The third priority is “improving disclosure.” The CEO of Money Partners Group explained, as conveyed by Nikkei:

[Cryptocurrency] exchanges rarely provide statistics such as total accounts and assets, leaving consumers with too little information to choose one over another. Online brokerages, by contrast, release this data monthly.

The group aims to establish a system for timely disclosure, the news outlet detailed, noting that the country’s financial regulator, the Financial Services Agency (FSA), “applauded the group’s creation as a welcome, if overdue, move toward reform.”

Furthermore, Okuyama said that the association will leave the regulation of initial coin offerings (ICOs) to the judgment of an FSA study group.

What do you think of this new Japanese association and its self-regulatory priorities? Let us know in the comments section below.


Images courtesy of Shutterstock and the new Japanese Association.


Need to calculate your bitcoin holdings? Check our tools section.

The post 16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan appeared first on Bitcoin News.

Bitcoin News

Their kids are spendthrifts. How do parents protect them with a trust?

April 8, 2018 |

Dear Liz: My wife (71) and I (68) have been diligent savers our entire lives. We have accumulated IRA assets of approximately $ 2 million along with a house and other assets. Our total estate is under $ 10 million. We have two adult children in their 20s who did not inherit the saving gene. My question…


L.A. Times – Business

Hacked Japanese Exchange Considers Capital Tie-Up to Regain Public Trust

February 27, 2018 |

Hacked Japanese Exchange Considers Capital Tie-Up to Regain Public Trust

Japanese cryptocurrency exchange Coincheck is reportedly considering a capital tie-up in order to regain the trust of crypto investors, following a recent hack where 58 billion yen worth of cryptocurrency was lost. As multiple victim groups are preparing to sue the exchange, the Tokyo police is also stepping up its investigations.

Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten

Possible Capital Tie-Up

Hacked Japanese Exchange Considers Capital Tie-Up to Regain Public TrustThe Tokyo-based cryptocurrency exchange Coincheck is reportedly “considering a capital tie-up to strengthen its financial base and regain trust following a massive cryptocurrency theft from the exchange in a hacking incident about a month ago,” Jiji Press reported, citing an informed source. The exchange lost 58 billion yen worth of the cryptocurrency NEM (~USD$ 544 million) on January 26.

The source told the publication:

There have emerged several possible partners, including an investment fund.

Hacked Japanese Exchange Considers Capital Tie-Up to Regain Public Trust
Coincheck CEO talking to the press.

An official in the crypto industry commented, “Coincheck’s customer base of over one million is fascinating.” However, there are concerns that the exchange could lose its customers going forward as it still struggles to compensate victims. “Investing in the company could involve great risks,” an official at a financial institution elaborated.

Jiji Press reported on Monday that “Coincheck expressed its eagerness to continue its business,” adding that “the company will strengthen its computer security system and information disclosure policy.”

Three Victim Groups

It has been about a month since the hack and the prospect of Coincheck compensating roughly 260,000 customers and restarting its business are still uncertain, Sankei reported. While the exchange resumed yen withdrawals on February 13, crypto withdrawals have not resumed. In addition, Coincheck promised to repay customers approximately 46 million in yen, rather than in cryptocurrencies.

Hacked Japanese Exchange Considers Capital Tie-Up to Regain Public Trust
Coincheck’s executives explaining about the hack.

On February 15, seven Coincheck customers filed a lawsuit at the Tokyo district court seeking the return of their cryptocurrencies, rather than Japanese yen. The plaintiffs are requesting their NEM and 12 other kinds of cryptocurrency, including bitcoin and ether, Business Insider Japan reported.

Another victim group was formed on February 22, and the third is also scheduled to be established, the news outlet added.

Hacked Japanese Exchange Considers Capital Tie-Up to Regain Public TrustEarlier this month, a meeting of Coincheck victims was held in Tokyo; approximately 35 users attended as well as three lawyers from the law firm Authense. An association of Coincheck’s victims was also established at the meeting.

Meanwhile, Nikkei reported that the Tokyo police department of cybercrime is setting up a headquarters this week to investigate the hack. It will be staffed with 100 investigators, including those familiar with cryptocurrency technology.

Do you think Coincheck should partner with another company? Let us know in the comments section below.


Images courtesy of Shutterstock and Coincheck.


Need to calculate your bitcoin holdings? Check our tools section.

The post Hacked Japanese Exchange Considers Capital Tie-Up to Regain Public Trust appeared first on Bitcoin News.

Bitcoin News

Japanese Crypto Associations Merging to Restore Trust Across the Industry

February 16, 2018 |

Japanese Crypto Associations Merging to Restore Trust Across the Industry

Japan’s two cryptocurrency associations have reportedly decided to merge in order to restore trust in the industry and accelerate self-imposed rules. Once approved by the Japanese financial regulator, the new organization will have the power to set penalties for breaches of self-regulation.

Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies

Two Crypto Associations Merging

Japan currently has two cryptocurrency industry associations: the Japan Blockchain Association (JBA) and the Japan Cryptocurrency Business Association (JCBA). The former is headed by Bitflyer CEO, Yuzo Kano, and has a total of 88 members, while the latter has a total of 154 members, according to Minkabu publication.

Japanese Crypto Associations Merging to Restore Trust Across the IndustryThe two organizations have reportedly been in talks to merge after the hack of one of the country’s largest exchanges, Coincheck, where 58 billion yen worth on the cryptocurrency NEM were stolen. They “are hurried to restore trust in the industry,” Forbes Japan reported.

They “will be integrated to establish a new self-regulating organization,” to focus on areas such as safety management system and compensation of customer assets, the news outlet added. In addition, the new entity will also focus on the reliability of crypto exchanges that have already been approved by the Japanese Financial Services Agency (FSA). Currently, there are 16 approved exchanges and 16 under review, including Coincheck.

On Thursday, Nikkei reported:

Two cryptocurrency industry groups in Japan [JBA and JCBA] have agreed to merge in an effort to accelerate the establishment of voluntary regulations and regain public trust in the aftermath of a massive virtual currency heist.

Set to launch on April 1, “The new organization’s chairman will likely be JCBA Chairman Taizen Okuyama, president of Money Partners Group,” the news outlet detailed, adding that Kano is “expected to become the self-regulatory body’s vice chairman.”

Commenting on the news of its merger with the JBA, the JCBA issued a statement on Thursday, stating that no details have been decided at this time.

Accelerating Self-Regulations

Japanese Crypto Associations Merging to Restore Trust Across the IndustryThe new entity will need the approval of the FSA. Under Japan’s revised payment services law which went into effect in April of last year, cryptocurrency operators are allowed to form a self-regulatory organization. They can “set industry rules, conduct investigations on members, and impose punishment,” the Japan Times elaborated.

However, the FSA previously “refused to allow two self-regulatory bodies, urging the industry to create a unified organization by merging the JBA and the JCBA,” Nikkei explained on Thursday, adding that:

Once the new body is approved by the agency, it will gain the power to set penalties for breaches of its self-imposed rules. This should also help address calls by banks and other businesses in the conventional financial industry for virtual currency businesses to establish a robust self-regulatory regime.

Do you think the merger will help the crypto industry gain more of the public’s trust? Let us know in the comments section below.


Images courtesy of Shutterstock.


Need to calculate your bitcoin holdings? Check our tools section.

The post Japanese Crypto Associations Merging to Restore Trust Across the Industry appeared first on Bitcoin News.

Bitcoin News

A ‘poor man’s trust’ may be a poor estate plan

February 11, 2018 |

Dear Liz: I am 85 and my wife is 76. We have a house free of mortgage worth about $ 1 million. We have market investments above $ 4 million and life insurance of $ 1 million. We do not have a trust, just a will. Our financial advisor says that we do not need a trust because we have named both of our…


L.A. Times – Business

Bitgo Snaps Up Kingdom Trust, Paving the Way for Custodial Cryptocurrency Offerings

January 26, 2018 |

Bitgo Snaps Up Kingdom Trust, Paving the Way for Custodial Cryptocurrency Offerings

Bitcoin payment specialists Bitgo have announced the acquisition of Kingdom Trust, an investment firm with custody of over $ 12 billion in assets. The move will enable the South Dakota-based Kingdom Trust Company to offer custodial cryptocurrencies such as bitcoin, ripple, and ethereum to its investors. This will make it easier for traditional investors to enter the lucrative crypto markets without needing to assume responsibility for safeguarding their holdings.

Also read: Dr. Doom (Professor Nouriel Roubini) Calls Stablecoin Tether a Scam

Bitgo Expands Its Kingdom

Bitgo is the web’s best known cryptocurrency payment processor, responsible for over $ 10 billion of transactions a month, much of which comes from major bitcoin exchanges. Its purchase of Kingdom Trust is an interesting one for a number of reasons. Two years ago, it would have been hard to envisage a day when a bitcoin company would be acquiring a firm from the world of traditional finance, not least one with 100,000 customers and $ 12 billion of assets in its care.

Bitgo Snaps Up Kingdom Trust, Paving the Way for Custodial Cryptocurrency Offerings

Announcing the news, Bitgo CEO Mike Belshe said: “Global financial markets have longed for an end-to-end solution offering both the technology to secure digital currencies as well as the legal and compliance controls necessary to integrate into mainstream financial portfolios…Kingdom Trust has served as a 40 Act qualified custodian for almost a decade and has developed the expertise required by institutional investors necessary for compliance with the Act.”

Double Digit Gains for the 1%?

The move, subject to approval, will suit both parties, enabling Bitgo to grow its brand and tap into a previously inaccessible market, and giving Kingdom Trust a means to ease into the burgeoning world of bitcoin, ethereum and all the rest. As an independent qualified custodian, Kingdom Trust enables registered investment advisors (RIAs) to manage the assets of high-net worth individuals – the 1% in other words. These are the sort of people who have neither the time or inclination to open a Coinbase account, but who are happy for RIAs to make astute investments on their behalf, and right now, crypto is where the money’s at.

Kingdom Trust provides custody solutions for “individual investors, investment sponsors, family offices, advisory firms, broker-dealers and various other investment platforms”. In addition to stocks, bonds, and commodities, those monied individuals now have another item to add to their basket in the form of cryptocurrency.

Do you think bitcoin companies buying up traditional finance companies is likely to become a trend? Let us know in the comments section below.


Images courtesy of Shutterstock, and Bitgo.


Need to calculate your bitcoin holdings? Check our tools section.

The post Bitgo Snaps Up Kingdom Trust, Paving the Way for Custodial Cryptocurrency Offerings appeared first on Bitcoin News.

Bitcoin News

Grayscale Will Launch Stock Split for Bitcoin Trust Shares

January 22, 2018 |

Grayscale Will Launch Stock Split for Bitcoin Trust Shares

This week the sponsor of the Bitcoin Investment Trust, Grayscale Investments has announced the launch of a 91-for-1 stock split of the Trust’s issued and outstanding shares. According to Grayscale, the division will take place on January 26 and shareholders will receive 90 shares for each their original shares held.

Also read: Markets Update: Cryptocurrency Prices Rebound But Uncertainty Still Lingers

The Bitcoin Trust Is Creating a 91-1 Stock Split

Grayscale Will Launch Stock Split for Bitcoin Trust SharesGrayscale Investments, Bitcoin Investment Trust (OTCQX: GBTC) is a popular investment fund based on the price of bitcoins held in reserves. Most investment trusts own a fixed amount of the asset and investors purchase shares of the Net Asset Value (NAV). One GBTC share is worth around 1/10th of BTC and users also pay portfolio maintenance fees. Investors like GBTC because it is considered one of the only stock tied to real bitcoins that are offered on a public stock market. Because BTC values have rallied for well over a year GBTC prices have followed suit making the price per share a bit expensive for some. Unlike purchasing bitcoins in fractions, investors have to buy an entire share to get in on GBTC investing. The increased price has made it harder for ordinary retail investors to buy shares so Grayscale has decided to create a stock split.

From $ 1,800 Shares to $ 18 Per GBTC

Grayscale Will Launch Stock Split for Bitcoin Trust SharesBasically, a stock split or divide increased the number of shares allocated to the investment vehicle. For instance right now Grayscale holds 1,916,600 shares of GBTC and one share is worth 0.09242821 BTC. If a user purchases ten shares, then they have the equivalent of 1 BTC and Grayscale holds a total of roughly 170,000 BTC. With the launch of a 91-for-1 stock split every share that’s worth .092 BTC will drop to 0.00101 BTC. After the split, there will be 174,410,600 GBTC shares in circulation. Grayscale believes the move will make GBTC shares more affordable and it will entice retail investors. Currently, one GBTC share is roughly around $ 1,767 USD, and after the split, it will be worth about $ 17.60 respectively.  

“It is the only product (of its kind) available to investors for purchase at net asset value,” explains the Grayscale director Michael Sonnenshein in a recent video interview.

Grayscale Will Launch Stock Split for Bitcoin Trust Shares
The Bitcoin Investment Trust price per share at 2:30 pm EDT on January 21, 2018.

The Possibility of Even More Shares and Automatic Issuance

Grayscale also reveals that the stock split could result in more shares than estimated on January 26.

“After the close of business on the record date, the Trust will announce the total number of shares that will be issued and outstanding immediately after effectiveness of the stock split on January 26, 2018, which will give effect to any such new shares created after the date of this press release and up through the record date,” Grayscale Investments details.

Shareholders are not required to take any action to receive the shares in connection with the stock split and they will not be required to surrender or exchange their shares in the Trust — The transfer agent will automatically issue the new shares in the stock split.

Stock Splits Can Affect a Stocks Overall Value Either Negatively Or In a Positive Way

Stock splits happen all the time in the financial world, but it’s interesting to see the method applied to an investment fund based on actual bitcoins held in storage. There are two scenarios that could happen when more GBTC shares become available as far as the stock’s price. One, the market could get over diluted, and the price drops in value at some point after the split; or, the split shares could make the overall asset holdings increase in value while also creating more accessibility to ‘average Joe’ investors. Grayscale is hoping for the latter outcome.

What do you think about Grayscale splitting GBTC? Let us know your thoughts in the comments below.


Images via Pixabay, Grayscale, and Google Finance. 


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The post Grayscale Will Launch Stock Split for Bitcoin Trust Shares appeared first on Bitcoin News.

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