Thread: GBTC

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  1. 01-13-2021, 02:31 PM #1
    NitroZ7
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    GBTC

    What happens if the ETF gets hacked or someone steals the code for their bitcoin? Was watching CNBC where people have their coin locked up because they don't know the password. My son bought some GBTC the other day and was just thinking about the what ifs.
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  2. boneil
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    #2 01-13-2021, 03:59 PM
    Is the ETF backed by actual bitcoin holdings? If so, then better read the fine print on the ETF. My guess is that you would get pennies on the dollar, but just a guess.
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  3. NitroZ7
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    #3 01-13-2021, 04:58 PM
    I think they use coinbase. But if the same thing happens at coinbase then it could turn into a mess. Not sure any of these companies have the assets or insurance to cover the losses. Does SPIC cover it? I don't know. Safer than owning it individually I guess but still risks.
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