Can Genesis Repay Creditors Faster with $2.1 Billion Bitcoin Bought from GBTC Sale? 😬
In a surprising move, bankrupt crypto lender #Genesis dumped $2.1 billion worth of Grayscale Bitcoin Trust shares (GBTC) to buy actual Bitcoin.
This fire sale comes after Genesis got the green light to sell the #GBTC in February, when the price was way lower. With Bitcoin back on the rise, is this a genius strategy by Genesis to repay creditors faster, or a risky gamble?
Crypto exchange #Coinbase says the market shouldn't panic, but will their assurances hold true?
