According to a report filed with the US Securities and Exchange Commission (SEC), billionaire Bill Miller’s fund The Miller Opportunity Trust has invested 1.55% of the funds in Bitcoin through the purchase of GBTC shares.
The document says that the portfolio of The Miller Opportunity Trust contains 1.5 million shares of Grayscale Bitcoin Trust (GBTC) worth $ 44.7 million. Considering that each GBTC share is now equal to 0.000939767 BTC, Miller’s fund ended up with about 1,409 BTC.
Back in January, Miller said that Bitcoin is the only asset with such growth potential and liquidity. In February, it became known that the Miller Opportunity Trust was considering investing in bitcoin through the purchase of GBTC shares.
Note that earlier GBTC shares were traded above the calculated value, but since March this year the situation has changed, and now the fund’s shares are traded at a discount of 14.96%.
Several Morgan Stanley investment funds at once increased their investments in bitcoin through GBTC shares. Thus, the managers of the Morgan Stanley Insight Fund acquired 928,051 shares for $ 27.67 million. However, this is only 0.34% of the total capitalization of the fund.
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