Hi everyone,
Bitcoin made it now to the mainstream with the first crypto based ETF. And of course it made it in style: one billion $ in volumes in the very first day!
Photo Credit: Spencer Platt | Getty Images
OK, for me sounds just stupid to buy an ETF when you can buy the crypto and have full control on your asset, but opportunities arise also when stupidity blocks one from doing the right thing.
A bit of history of the ETFs: first ones were based on indexes, as it was much easier to trade one single ETF than a basket of different stocks, expanded then to corporate and municipal bonds, reached gold and silver in the early 2000s, and then grew and covered almost everything in the world. It was a strong fight with authorities to get the first crypto based ETF approved, and now the door is open.
First Bitcoin ETF (BITO) is now trading on New York Stock Exchange. Already from the first day the impact was so strong that people compare it to Gold ETF.
Bitcoin is a rare thing, and everyone wants a bit of it. Definitely something to stay, and believe my words: we will see BTC at $1 million sooner then many expects. The next halving is planned for 2024, and another decrease in supply will give it extra steam.
My intuition tells me that it will reach one million before the end of 2025, but of course... many things could happen.
What is your view on this?