Matt Hougan, the big cheese at Bitwise Asset Management, thinks Bitcoin is on its way to becoming a mainstream investment. He’s super excited about the performance of Bitcoin ETFs this year, saying they’re showing signs of a “new asset class” being born.
Bitcoin ETFs: A Gold Rush?
Hougan compares the current Bitcoin ETF boom to the launch of the first gold ETF back in 2004. He says that gold was a niche commodity back then, hard to buy and not in many portfolios. But the gold ETF changed all that, and it kept getting bigger year after year. He thinks Bitcoin ETFs are following the same path.
Steady Growth, Regardless of Price
What’s really interesting is that Bitcoin ETF flows have been consistent, even when Bitcoin’s price has been going up and down. This suggests that investors are increasingly seeing Bitcoin as a long-term investment, not just a volatile gamble.
Hougan believes that the second half of 2024 could be even bigger for Bitcoin ETFs than the first half, and that 2025 could be even bigger than that. He’s clearly bullish on Bitcoin’s future.
Important Note: This is just one person’s opinion, and it’s not financial advice. Always do your own research before investing in anything, especially something as volatile as Bitcoin.
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