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Grayscale Bitcoin ETC traded near 50 percent discount to NAV in 2022, Richard Byworth notes

Grayscale Bitcoin ETC traded near 50 percent discount to NAV in 2022, Richard Byworth notes
Grayscale Bitcoin ETC traded at deep discount

Richard Byworth, former CEO at Diginex / Eqonex, shared that his best trade in 2022 was purchasing Grayscale Bitcoin ETC at a 50 percent discount to net asset value, equating to buying bitcoin at $8,000 to $8,500.

Byworth observed that it was increasingly likely either the U.S. Securities and Exchange Commission would approve ETFs or that a redemption at par could eventually take place.

Byworth recently attracted attention for predicting a new crypto all-time high this year, as reported in previous coverage. Earlier, he highlighted timing concerns when the Metaplanet board reversed 41 percent of series 10 shares, according to an earlier report. These developments provide further context to his recent trading activity.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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