Bitcoin Treasury Companies See NAV Premiums Compress Amid Lower Volatility; GBTC Hit 47% Discount in 2022

BTC-1.7%
According to 10x Research, as Bitcoin volatility continues to decline, most bitcoin treasury companies have seen their net asset value (NAV) premiums significantly compress, with some products turning to substantial discounts. As a historical reference, Grayscale's GBTC experienced a 47% discount in December 2022, when investors could purchase Bitcoin at an implied price below $10,000 through the product.
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