tell us you don’t know 5hit about bitcoin without telling us
FBTC etf has only been around since 2nd week of january
I mean, there is basically a decade's worth of BTC talk on this forum where I chime in with 'WT17?' or 'Even after reading a dozen articles about the tech, I just dont get it'.
I have straight up said that I dont get it, so I have told 'us' that I dont get it.
I continue to wait for some actual investing fundamentals that can logically work for BTC or any crypto. Up to now, the way of justifying value and claiming fundamentals are used is to highlight the fact that mining will run out- so basically supply is limited. Well ok, but limited supply doesnt directly result in value. Another claim is that it can be used in place of fiat currency...but that has been an abject failure even at the limited scale it has been tried because verification is slow, verification is expensive, and people dont want to give up something that might be worth 20% more in a few days for no actual investment reason.
In reality, a bitcoin has no intrinsic value and is not backed or supported by anything. And in an ironic twist that just seems to be constantly ignored, its value is directly tied to the very currency that so many people claim BTC exists to be an alternative to. Um...yeah.
This is all speculation. Speculators pushed BTC and other crypto into the investment markets and speculators stand to gain the most from that move(shocker**). Thats cool and all, speculate away, but lets not pretend there is sound investment strategy actually going on by most(any?) speculators/investors.
Currently, the value is really all just a bit of a self fulfilling prophecy, a bit of FOMO, a bit of alt sticking it to the man, a heavy dose of social media, and a bit more of FOMO.
As for your comment about FBTC beoing around since the 2nd week of January...I am not sure what you are saying. Are you saying my comment about my Fidelity account is a lie? If thats what you are saying...who lies about investing $646 and only having $1529?