Bitcoin's Shift: From Unique Asset to Tech Stock

Bitcoins Unique Value Proposition: A Shifting Landscape - Bitcoin, once seen as a unique asset, now behaves like a high-risk tech stock. A ten-thousand-dollar investment in Bitcoin since January 2023 has yielded similar returns to the ProShares UltraPro QQQ ETF. This challenges the idea of Bitcoin as a diversification tool, as its performance now correlates with the tech sector and small-cap stocks. The launch of Bitcoin ETFs and the recent crypto crash further tie Bitcoins price to the broader market, diminishing its distinct value proposition.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.