So how can you take advantage of Bitcoin’s rise in the world economy? What is the best and easiest way to get exposure to cryptocurrency in your portfolio? Is there a Bitcoin ETF?
Bitcoin was a novel concept in that it was an entirely digital peer-to-peer currency. That means that it could facilitate payments between two people instantaneously without a third party (such as a bank) in the middle. The Bitcoin cryptocurrency relies on a system of decentralized nodes that record all transactions on a blockchain.
A single Bitcoin was trading at around $5 at the beginning of 2012. As of this writing, Bitcoin is hovering around $40,000 – 8000x what it was worth nine years ago. Even if you had invested $10,000 at the beginning of 2020, you’d have averaged making $200 a day since then
Unfortunately, Bitcoin still has not reached universal acceptance by Wall Street and its regulators. Currently, in the U.S., there is no such thing as a Bitcoin ETF because it is not legally allowed. However, many experts see it as a question of not if, given its rising popularity, but when regulators would work out the kinks to offer a full-fledged Bitcoin ETF.
Is there a Bitcoin ETF? That is one of the most-searched terms in the world of Bitcoin. While the answer to that is currently “no,” there are encouraging signs that may soon change.