As a seasoned investor with over three decades of experience under my belt, I have seen many trends come and go, from dot-com bubbles to the 2008 financial crisis. The recent performance of Bitcoin ETFs has piqued my interest, not out of excitement but rather out of curiosity.
As a financial analyst, I find myself in agreement with Peter Schiff, a renowned figure in our field, regarding Bitcoin ETFs. His recent observations suggest that the excitement surrounding these investment products may be unwarranted, given their current performance trends
Schiff noted that there’s a difference between investing in Bitcoin and gold ETFs. While the former has seen modest gains of less than 17% since their launch in January, the latter is up over 24% despite significant outflows. In Schiff’s view, this suggests investors made a mistake by favoring Bitcoin ETFs
Nevertheless, the expert has consistently expressed skepticism towards Bitcoin ETFs. For some time, this investor has maintained that cryptocurrencies are inherently problematic investments without any inherent value. His recent remarks coincide with a challenging period for the industry, as the price of Bitcoin continues to face difficulties
Starting from their debut in January of this year, even after receiving large amounts of money, the Bitcoin ETFs have only risen by less than 17% in value. On the other hand, the Gold ETFs like GLD, the largest gold ETF, despite losing a significant amount, $GLD, the largest #Bitcoin ETF, the gold ETF, on the other hand, despite massive outflows, $GLD, the largest #gold ETFXGLD, despite massive inflows massive outflows, despite massive outflows, despite allows a large outflows, it’). Despite all, the gold ETF investorss new16212012, in202121>1. In the new1: The new Bitcoin EFTon23 one’ about17
— Peter Schiff (@PeterSchiff) September 5, 2024
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2024-09-05 19:22