Coinspeaker
Crypto Stocks that Outperform Bitcoin in 2023
The world’s largest cryptocurrency Bitcoin (BTC) has given a strong breakout earlier today hitting a new high for 2023 at $35,000. With this, Bitcoin has extended its year-to-date gains by more than 100%. While Bitcoin has given strong returns to investors this year, the stocks of the companies having exposure to BTC have delivered even better returns.
Grayscale (GBTC) Shares Outperform
Shares in the Grayscale Bitcoin Trust (GBTC), the world’s largest Bitcoin fund, have surged by 196% since the year’s beginning. Thus it offered a more profitable option for buyers compared to direct Bitcoin ownership.
Grayscale intends to provide investors with direct exposure to the Bitcoin it holds by converting its fund into a spot Bitcoin ETF. If regulatory approval is granted, each share in the fund will become directly redeemable for a fixed portion of Bitcoin.
Historically, GBTC shares have traded at a discount to the Bitcoin held by
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