Blockchain.com Founder Praises Bitcoin
Investors are more bullish then ever on the Bitcoin. The other markets have their own challenges of their own. On the macro level, events such as rising debt levels, globalism, and quantitative easing makes the Bitcoin one of the more attractive investments in the world right now.
Blockchain.com co-founder Den Held expressed his optimism, stating Bitcoin’s advantages like having smaller market cap than Starbucks, less than 0.1% ownership in the world and the emergence of a Bitcoin ETF. Other factors he cited include 441 days til halvening, rising government debt, and safeguards being placed on an institutional level.
BlockChain Fundamentals Not Reflected in the Market
The positive outlook on the bitcoin has not necessarily translated into gains. Since the market reached its lows in the middle of December, It has on only increased market cap 33%, from $102 billion to $135 billion. To be fair, any other security showing an increase of 30% would be impressive but for experts tis growth is timid.
Pantera Capital echoed this sentiment as it noticed that the market is not behaving as the fundamentals are showing which has been the strongest they have been on a long time. “We have been surprised to see how far prices have deviated from the underlying fundamentals”, the team at Pantera added.
Block Chain ETFs Faring Better
Exchange Traded Fund Trading Block Chains have fared better despite the lack of a major jump from the strongest block chain currencies. Some see Block Chain ETFs as investment to tech companies with higher fees but they do offer some advantages over that counter-part.
One ETF rising is the Reality Shares NasDaq Next Gen Economy China ETF or BCNA. The ETF keeps track of the Reality Share Nasdaq Block Chain China Index which measure the returns from Chinese companies that are committed to researching and using blockchain technology.