DCG invested in GBTC with a loss of $871 million, a loss rate of 66%
ChainCatcher news, according to media statistics, starting from the first quarter of 2021, DCG has spent a total of $1.305 billion to purchase 54,823,667 shares of GBTC, with an average price of $23.8. Based on the latest market price ($7.92), DCG has incurred a loss of $871 million, with a loss rate of 66%; if calculated at the fair value ($15.42), DCG still faces a loss of $460 million.Earlier, according to the Wall Street Journal (WSJ), Grayscale CEO Michael Sonnenshein stated in a letter to investors that if GBTC cannot ultimately be converted into a Bitcoin ETF, there may be a proposal to make a tender offer for 20% of the $10.7 billion issued trust fund shares. (Odaily Planet Daily)