A coinbase director says that one factor plays an important role in institutional investors who buy Bitcoin (BTC).
In a new interview with CNBC, Coinbase head of institutional strategy John d’Agostino Namur Four possible reasons Why he sees BTC exchange-related funds (ETFs) in the elevator.
“We spoke about the three reasons why [BTC ETFs are exploding]: [it’s] No longer acting as a tech bundle, inflation cover and this type of ‘catching to gold’ type trade. Now, with this kind of attack by ETF streams, we have the fourth characteristic, which is just scarcity.
Bitcoin my workers cannot produce Bitcoin as quickly as this overwhelming question. So I don’t think it is appropriate to see it as a tech shares in the tech bundle. Whether you see it as a raw material as gold is somewhat subjective. I like to look at it. Others not, but I think it is a good framework to think about, especially in relation to the gold trade. “
Furthermore, D’Agostino claims that there is another important aspect that many people might overlook.
“The only important thing to remember about this ETF entry – and not only the increase that we have recently seen, but since the beginning, because it has been an absolute phenomenally performing ETF – and this is a very important point that is overlooked: this is done with the asset managers who do not allow their sellers to recommend it.
That is as if a shoe seller cannot recommend Nike. So that will change at some point. And I will leave it a bit to your viewers to determine what happens when the thunderous herd of brokers can grab the phone and recommend this ETF. “
https://www.youtube.com/watch?v=Uf5IS5SLTGQ
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