Genesis / DCG: All Cool Again? Bitcoin Investors Should Be Cautions

Genesis / DCG: All Cool Again? Bitcoin Investors Should Be Cautions


The Bitcoin price plunged to a new bear market low at $15,487 on Monday after rumors intensified that Genesis Trading and Digital Currency Group (DCG), which also owns Grayscale with its 635,000 BTC strong GBTC, would go bankrupt.

Since then, the Bitcoin price is recording a relief rally. At press time, Bitcoin was trading at $16.598 and faced the crucial resistance zone at $16,000. If this resistance is overcome, a quick candle towards $17,500 to $18,000 could be on the table.

Bitcoin price, 1-hour-chart. Source: TradingView DCG /Genesis Safe?

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Bitcoin investors, however, might be asking themselves what has changed in the whole misery surrounding Genesis / DCG and Grayscale?

DCG CEO Barry Silbert released a putative letter to investors yesterday. In it, the CEO explained

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