As you’ve probably read, the Winklevoss twins have been trying
to get a publicly-traded Bitcoin fund on the market for some time now.
Theirs is to be COIN, but in a turn of events, the Bitcoin Investment
Trust has beat them to the punchline and will soon be listed as BTCV,
according to the Wall Street Journal.
The Bitcoin Investment Trust
is conglomerate of smart and old money who believe the future of money
will include Bitcoin. It was launched in 2013 by a few financial firms,
and its value stems wholly from the fiat price of Bitcoin, with no
diversification or dilution of purpose.
Will This Bring The Price Way Up?
While this writer is not a financial analyst, simple logic tells us
that if everyday stock traders are trading a Bitcoin stock now and they
want to see the value of it increase, the price of Bitcoin will have to increase first.
The majority of the customers who have invested with BIT have done so
in order to avoid the risks associated with price volatility by holding
Bitcoin directly. The fiat value of Bitcoin has been steadily rising
since the end of last week, and analysts are saying that it will
continue in this direction.
It appears that there will be multiple options for non-enthusiasts to
invest in Bitcoin without the barrier of education or the problem of
securing their funds. In some ways, this is similar to a bank storing
gold bars for customers.
Tulips rot.... Bitcoins don't. Why is a Picasso worth a few million? Why is a diamond (a piece of carbon) worth a lot? Why is a rare bottle of whisky expensive? It's all to do with perceived value. A bitcoin can be dived into minuscule amounts.... Tulips can't. Diamonds can't and whisky just gets drunk! Who's to say that 0.0000001 of a BTC won't be worth 5 million? Yes it's nearly incomprehensible.... But so was it when the price was a few cents... So its it depends what the folk think it's worth... Stick a few away for a rainy day... When they become more everyday life... They will only increase in value. Sceptics rarely make much money.
Tulips rot.... Bitcoins don't. Why is a Picasso worth a few million? Why is a diamond (a piece of carbon) worth a lot? Why is a rare bottle of whisky expensive? It's all to do with perceived value. A bitcoin can be dived into minuscule amounts.... Tulips can't. Diamonds can't and whisky just gets drunk! Who's to say that 0.0000001 of a BTC won't be worth 5 million? Yes it's nearly incomprehensible.... But so was it when the price was a few cents... So its it depends what the folk think it's worth... Stick a few away for a rainy day... When they become more everyday life... They will only increase in value. Sceptics rarely make much money.
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