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Sam Callahan @samcallah · Dec 11, 2022
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Great thread Ram! First time reading it. I found your other thread going over Barry’s letter to shareholders helpful in my research. But this GBTC premium trade dynamic was well known to any analyst who has closely followed this market over the last 5 years.

Tweet Dec 2, 2022
1/ There are a lot of smart VCs concluding the demise of Luna set in motion contagion. No. The collapse of the GBTC premium was the main culprit. It created, for a time, the perception of a perpetual motion machine disguised as a ‘carry trade’…
by Ram Ahluwalia, crypto CFA
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