Investment management firm, Marlton, has applauded the recent decision to authorize the purchase by Digital Currency Group (DCG) of up to a total of $750 million worth of shares of Grayscale Bitcoin Trust (GBTC). This latest action follows Marlton’s recent call for DCG and the Grayscale board to do more to narrow the discount on GBTC shares.

Support for Purchase Authorization

In a statement, Marlton’s Managing Member, James C. Elbaor says this DCG action is “a more constructive approach to alleviating the dramatic discount between the market price of GBTC shares and net asset value.” He added:

We continue to believe GBTC maintains a competitive advantage as the world’s largest Bitcoin fund, and appreciate that GBTC has recognized the need to take meaningful steps that are aligned with stockholder value creation and ensuring the best path forward.

As previously reported by Bitcoin.com News, Martlon’s Elbaor argued in an open…

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Source: https://news.bitcoin.com/marlton-applauds-decision-to-increase-digital-currency-groups-authorized-purchase-of-gbtc-shares-to-750-million/