Correct but it has great potential right now. Ongoing institutional adoption will drive bitcoin's value along with the fed's mismanagement and debasement of the dollar, negative real rates of return on your country's own debt, inflation eroding the value of the dollars you get paid in by your employer more and more every day....all reasons to hold bitcoin. The fed is just kicking the can down the road. They will eventually run out of road. Stop thinking of it as a digital currency or crypto. It is an asset. A digital store of wealth just like gold and has a one trillion plus market cap right now. Won't be long before it is far more valuable than gold. It is foolish to write it off because you don't understand it. Learn about it. Open your mind.Bitcoin is only starting. It has great potential in the next 5-10 years.
Just be patient.
There were no bitcoin ETF's up until two weeks ago. Unless you're referring to one of Canada's products or possibly the grayscale btc trust which is not technically an ETF. Central bank digital currencies (CBDC's) were inevitable. Many countries are already rolling these out and the US will eventually follow. However, this will only push bitcoin adoption further.I have a very small amount in a bitcoin ETF. It's up 18% since I bought it earlier this year. My biggest fear is that governments are looking into issuing their own cryptocurrencies, which probably will not end well for the bitcoin holder.
Yes, I have positions in that as well. One of my largest holdings in my 401K plan. Also one of the few ways to indirectly purchase BTC outside an exchange. Believe I've read they want to covert to a spot ETF when the SEC gives the go ahead to spot-based ETFs which should reduce the high fees they charge.It is the Grayscale bitcoin trust (GBTC).
BTW, Suarez is one of several politicians accepting their salaries in bitcoin in the hopes of spreading information in regards to it. Miami, Wyoming and Texas are hotbeds for bitcoin-friendly legislation.
Nice man! You can buy through the Cash app and Venmo as well but their fees are higher. Coinbase pro or Gemini have lower fees than a regular coinbase account. FTX US or Binance US work as well depending on what state you reside in. Binance is not allowed in CT where I live and six other states I believe due to their specific banking regulations. Once purchased you can then transfer to whichever wallet you like. I use trust wallet but a cold storage solution like Trezor or some other multi key solution.I took the plunge and bought some Bitcoin today through the SoFi app and I'm thinking about opening a Coinbase Pro or Bisq exchange account tomorrow but I'm sifting through which app and wallet is best for cyrpto. What is everyone else using? I'm thinking if I commit to investing in crypto I'm going to want something like a Trezor Model T and store it in a safety deposit box.
You can, actually. Coinbase debit card. You own the crypto, you specify what cryptocurrency you want to pay with. You buy something, they sell that amount to pay your bill. No different then using a credit card in another country.