GBTC unlock edges closer as impact on Bitcoin price remains unclear
Cointelegraph
Published Jul 10, 2021 09:34AM ET
Updated Jul 10, 2021 11:20AM ET
As Bitcoin (BTC) struggles around the $32,700 mark after the July 8 price drop, another major event looms over the flagship cryptocurrency in July, the Grayscale Bitcoin Trust (GBTC) unlock.
A total of nearly 40,000 BTC will be unlocked in July, amounting to nearly $1.5 billion in notional value. The biggest of these unlocks will be on July 18 when 16,240 BTC will be available due to the release of the six-month lock-in period for GBTC shares.
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Written By: Cointelegraph
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