Bull Oak Capital, an investment advisory firm based in San Diego, CA, recently purchased 81,347 shares of the Grayscale Bitcoin Trust (GBTC) for its clients.
Grayscale Bitcoin Trust (OTCMKTS:GBTC)
SAN DIEGO, CA, UNITED STATES, July 14, 2021 /EINPresswire.com/ — Bull Oak Capital, an investment advisory firm based out of San Diego, CA, recently purchased 81,347 shares of the Grayscale Bitcoin Trust (GBTC) for its clients.
“We believe most long-term investors should have an allocation to cryptocurrencies, and GBTC provides us with the most efficient means of doing so,” said Ryan A. Hughes, founder and portfolio manager of Bull Oak Capital.
As of June 30, 2021, Grayscale Investments reported more than $31 Billion in assets under management. In the absence of an SEC-approved ETF, Bull Oak Capital selected GBTC, as it provided its investors with a safe and compliant method of gaining exposure to bitcoin. Holding bitcoin through GBTC also helps clients avoid the challenges of storing, transferring, and safekeeping digital currencies directly.
“We believe this is an excellent opportunity for our clients to obtain exposure to this market, especially after a nearly 50% price decline. We see an ongoing decline in transaction costs as cryptocurrencies continue to gain acceptance as a normalized payment option,” continued Ryan. “Bitcoin’s upside is enormous. For our clients with a longer-term time horizon, this was an opportunity that we did not want to pass on. Further, GBTC’s price discount to its NAV offers our clients an attractive opportunity to gain bitcoin exposure cheaper than its spot price. This discount should largely disappear if and when the SEC approves GBTC’s conversion to an ETF.”
To learn more about Bull Oak Capital’s investment management and financial planning services, visit www.bulloakcapital.com.
Bull Oak Capital is a financial advisory firm providing comprehensive financial planning and investment management services to retirees, professionals, and business owners. Founded in 2014 by Ryan Hughes, Bull Oak Capital is a fee-only Registered Investment Advisory firm based in San Diego, California. Bull Oak Capital creates investment portfolios based on rigorous market research and focusing on three central principles: low-cost/passive management, risk management, and behavioral economics. A comprehensive financial plan should be the core of any long-term investment plan; Bull Oak Capital creates customized scenario-based financial plans based on the goals and lifestyles of individual clients. Bull Oak Capital believes that the combination of the two helps its clients to achieve financial independence successfully.
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