The crypto frenzy started in November 2020, and within months, Bitcoin and Dogecoin attained a market valuation of $1.28 trillion and $97 billion, respectively.
In the old days, a majority of people trusted that gold and silver have value and hence exchanged it in return for goods/services.
But in 2009, banks gave up gold and started printing unlimited paper currency by promising that they will be responsible for the value.
Elon Musk and other hedge funds got interested in BTC, because it does the same thing as fiat currency but without any centralized power.
But the decentralized ledger system does not make BTC immune to scams and money laundering.
The demand shows how much trust people have in the digital coin and how little trust they have in fiat currency.
In the 2009 crisis, when people started losing trust in banks, they switched to gold.
Then you have hedge funds and Elon Musk popularizing digital coin as the global currency of the future, and people trust them.
With this ETF, you can invest in BTC, even if you don’t understand crypto exchange, and easily liquidate it in fiat currency.
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