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I Own Grayscale Bitcoin Trust, but It May Not Be Right for You

TheMotleyFool

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I Own Grayscale Bitcoin Trust, but It May Not Be Right for You

I picked an interesting time to add some cryptocurrency exposure to my portfolio. I initiated a position in Grayscale Bitcoin Trust (OTC: GBTC) -- the first publicly traded security investing solely in Bitcoin (CRYPTO: BTC) -- four months ago. The shares have more than tripled in my short tenure of ownership.

There are a few valid knocks on Grayscale Bitcoin Trust. It trades at a premium to the Bitcoin tokens it owns. It also charges a stiff 2% annual fee.

However, there are some arguments in favor of Grayscale Bitcoin Trust. It works for me -- along with a smaller position in Bitcoin itself -- but let's see if it might not work for you.

Source Fool.com

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