U.S. Bankruptcy Judge Grants Genesis Permission to Sell $1.6 Billion in GBTC Shares

Concerns Arise Over Impact on Bitcoin Market Amidst Historical Context

The price of Bitcoin has experienced a surge this week, reaching heights not seen since the 2021 bull run. However, recent news has emerged that may raise concerns about potential impacts on the market. A U.S. bankruptcy judge has granted permission to bankrupt crypto lender Genesis to sell $1.6 billion worth of Grayscale Bitcoin Trust (GBTC) shares in order to repay creditors. This development has investors wondering about the implications, particularly in light of previous market movements caused by Grayscale's asset sales.