9 | With investors being able to buy elsewhere, GBTC premium went down, eventually flipping to a discount. With a current discount of 28%, GBTC investors who bought at a premium experienced at least an additional 28% loss on top of the overall BTC price decline in the bear market
9 |随着投资者能够在其他地方购买，GBTC溢价下降，最终转为折价。在目前28%的折扣率下，在熊市中BTC整体价格下跌的基础上，溢价买入的GBTC投资者至少额外损失了28%