Posted 1/3/2024, 11:55:00 AM
Bitcoin's Scarcity and Potential ETF Approval Could Boost Prices, Though Risks Remain
- Bitcoin is the most popular and valuable cryptocurrency, accounting for 50% of the entire crypto market
- Bitcoin has a simple investment thesis based on its scarcity and the economic principle that price rises with demand if supply is capped
- Approval of spot Bitcoin ETFs in 2024 could significantly boost demand and prices
- Experts predict massive price increases if spot Bitcoin ETFs draw institutional investments
- Even small Bitcoin positions of 2-5% may be worthwhile for risk tolerant investors, though it does carry volatility and regulatory uncertainty