Posted 1/19/2024, 8:59:00 PM
Bitcoin ETFs See $1.9B Inflows Despite Columnist's Skepticism of Crypto as Speculative Mania Rather Than Visionary Idea
- Massive interest shown in new bitcoin ETFs, with over $1.9 billion flowing in within first 3 days
- Columnist Jeff Sommer discounts bitcoin as driven purely by FOMO and speculation
- Bitcoin has a philosophical vision of a decentralized global currency as well as a strong track record as an investment
- Bitcoin ETFs allow more mainstream investors to gain exposure through retirement and corporate accounts
- Skepticism of bitcoin may also be its own form of social contagion rather than reasoned argument