Here is a clip of Lary Fink of Blackrock promoting the launch of their Bitcoin ETF. Without going through all technical things, he basically lays out few reasons as to why own Bitcoin.
You may have your own views on Bitcoin, set aside that for a moment, for ex: it is not a real estate you cannot grow, it does’t produce cash flow, so you are not going to get cash, yada, yada.
My simple rational is,
- Bitcoin has arrived as an asset class.
- It is only a matter of time, the target date funds are going to add it to their allocation.
- The ETF is going to enable many folks to buy, you don’t need to understand digital wallets and all associated technology.
- The demand will drive price higher.
Now, if you don’t want to buy it or consider it as not an investment, fine. Or set aside your own views, only focus on making money.