Contrarian Investors Who Bought GBTC Shares in January Have Been Rewarded With a 220% Surge

Contrarian investors who bought shares in Grayscale Investment's Bitcoin trust (GBTC) in January have been rewarded handsomely, with GBTC shares surging 220% this year. The optimism surrounding the potential approval of the conversion of GBTC into an ETF has narrowed the discount in GBTC shares relative to the trust's net-asset value. As the conversion approval becomes more likely, traders may unwind their strategies, further bolstering bullish pressures on bitcoin