This Breakdown is an Example of the Type of Disinformation Tha | LibreCharts

This Breakdown is an Example of the Type of Disinformation That Exists in This Space

Its obvious that this news was shared with the intent of generating bullish sentiment in the markets.

'The Block' wanted readers to see this article and think, "Oh wow! A billionaire investor is just now picking up shares of GBTC, this must be (more) evidence that institutional investors are piling back into Bitcoin. Looks like we're going back to the moon!"

Not so fucking fast. If that were the case, then 'The Block' wouldn't be sharing this false information.

What's Their Motivation For Doing So?

1. 'The Block' is owned by Coinbase (as in, they were seeded, funded, & started by Coinbase - exclusively).

2. Coinbase is GBTC's sole custodian of funds (source: https://sec.report/Document/0001564590-21-041930/) <— from that filing, "The custodian of the Trust is Coinbase Custody Trust Company, LLC (the 'Custodian'), a third-party service provider. The Custodian is responsible for safeguarding the Bitcoin, Incidental Rights, and IR Virtual Currency held by the Trust, and holding the private key(s) that provide access to the Trust’s digital wallets and vaults. The Custodian Agreement is for an initial term of three years."

Clear conflict of interest here.