Seeking Alpha
2021-10-20 21:48:39

BITO ETF: The Bitcoin Phenomenon

The first exchange-traded fund for Bitcoin is now trading, as the cryptocurrency trades at a record high over $66,000.While I am a cautious bull on risk assets, I am still questioning the investment thesis behind Bitcoin.Other than its phenomenal increase in price in recent years, I do not see the fundamental basis for its value long term.

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