So, as previously mentioned, the unthinkable happened and the SEC somehow approved Bitcoin ETF's, meaning the flood gates have opened! Major financial institutions (BlackRock, ARK Invest, Invesco and Fidelity) are already offering Bitcoin ETFs that you can purchase thru your online trading platform.
I went ahead and purchased ARKB (two lots at $50 and $42.50) since Cathy Woods has been bullish on BTC for years now, unlike the old school financial players like Blackrock who were calling bitcoin a scam just a few years ago. Also, ARKB is waiving all ETF fees for 6 months, so that's a positive.
Does this mean I'm suddenly a butt-coin bull? F*ck no... but this to me is a good diversification step just in case this finite digital currency goes to 1 million like the bulls(h*t) say. More corporates may start carrying BTC on their balance sheets, and more retail investors might bite on this since this almost makes bitcoin a legit investing tool. So why not throw some more skin in the game?
For your reading pleasure, here's a quick snip on the Greater Fool Theory.
In finance, the greater fool theory suggests that one can sometimes make money through the purchase of overvalued assets — items with a purchase price drastically exceeding the intrinsic value — if those assets can later be resold at an even higher price.
