Quick Thread on Upcoming FUD:
Quick Thread on Upcoming FUD:
- $GBTC outflow ($500-600mil/day)
- Mt.Gox 200,000 BTC Unlock
- Silk Road 100,000 #BTC
- Grayscale $ETHE
1/ GBTC outflow
Grayscale dump 10,000-25,000 BTC each day.
Outflows aren't slowing - they're picking up.
Total out so far is $3.45 Billion.
*FTX sold about $1 billion of Grayscale's $GBTC since Bitcoin ETF approval – news published today by @@coindesk 
Mt.GOX BTC distribution is expected to hit the market over the next 2 months, 200K BTC unlock.
December 2023 - Mt.Gox creditors received compensation in yen via PayPal.
*Most Mt.Gox holders' Bitcoin holding price is under $1000.
The U.S. government holds about 100K Silk Road-related bitcoins.
They announced plans to sell the 50K bitcoins seized from Silk Road in four installments, and have not been heard from since July.
*It is likely to resume after the ETF passes.
4/ Grayscale - $ETHE
Grayscale holds $7-8B of $ETHE
$ETHE was trading at up to a 50% discount to its NAV until recently. (Like $GBC)
This suggests the possibility of an Ethereum version of the "ETF - Sell the News" event.
*FTX's $ETHE holdings are a quarter of $GBTC.
