There are exactly zero mentions of the word "bitcoin" in the IBM (IBM) 2016 Annual Report and yet I firmly believe that IBM benefits tremendously from bitcoin.
As far as I can tell, IBM has almost no exposure to the Grayscale Bitcoin Investment Trust (OTCQX:GBTC), and vice versa. However, GBTC wouldn't exist without the technology that IBM is mastering: blockchain.
Here's where we can easily start:
Blockchain is the technology that powers bitcoin. In other words, without blockchain there is no bitcoin. The existence of GBTC depends on Bitcoin and the existence of Bitcoin depends on blockchain. Without blockchain, GBTC cannot exist.
