Yes, unfortunately, it is an imperfect vehicle for BTC exposure, but at least it is easily available if other avenues are not possible. Coinbase is another one that is somewhat correlated.
What i mean is… people who bought bitcoin at 0.01 USD experienced astronomical gains.
People who bought at 100 USD, have experienced 950X
People who bought at 1000 USD, have experienced 95X
People who bought at 10000 USD, have experienced 9.5X
So I do not believe that anyone buying bitcoin in Dec 2024 can expect similar returns like people who bought BTC in Dec 2014. The larger the asset class becomes, the lower the returns would be.
For Example -: Michael Saylor average cost of BTC purchases is about 58,000 USD (as per his CNBC interview yesterday). For him to experience 100X gain in 10 years, the price of BTC need to be 5.8 Million USD. Now mathematically everything is possible, but it is very unlikely.
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Got it - the flipside to that argument would be that volatility / risk would be much lower going forward as well.
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Maybe another proxy suggestion would be companies involved in mining and/or blockchain technology such as those included in this ETF: BKCH (Global X Blockchain ETF)
Still holding on my 5.5 ETH. I wonder if it will get back to 0.06 BTC/ETH in the coming months.
Sure it is possible
But I don’t personally count on that.
Even Michael Saylor says volatility is a feature of BTC not a bug.
Anyone up for some arbitrage?
Bitcoin crashes to $62,000 on Upbit after South Korea enacts emergency martial law
25 posts were split to a new topic: Present and Future of Bitcoin [2025]