The Vanguard guide after opening access to ETF trading and cryptocurrency-based mutual funds for brokerage clients has not changed its skeptical stance on Bitcoin.
Digital gold should rather be viewed as a speculative collectible item, rather than a functioning asset, stated John Ameriks, head of Vanguard's quantitative investments department.
He noted that cryptocurrency does not possess properties that ensure income, compound interest, and cash flow. Since there is no compelling evidence that the underlying technology provides sustainable economic value, "it is difficult to consider Bitcoin as anything more than a digital equivalent of Labubu," emphasized the manager. 0 $BTC
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