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Here's Why Grayscale Bitcoin Trust Is Rising Today

TheMotleyFool

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Here's Why Grayscale Bitcoin Trust Is Rising Today:

Thursday has been a strong day for cryptocurrencies. As of 3 p.m. EDT, bitcoin had risen by about 14% over the past 24-hour period, and most other major cryptocurrencies also made double-digit moves to the upside.

So, it shouldn't come as too much of a surprise that Grayscale Bitcoin Trust (OTC: GBTC) is rising as well. Shares of the trust, which essentially holds a stockpile of bitcoin that back its share price, were nearly 15% higher on the day.

Image source: Getty Images.

Source Fool.com

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