“I still think it will be quite a long time until an ETF is approved. The last asset class to be approved for ETF certification was copper, and copper has been on earth for 10,000 years.”
Dan Morehead calls for long-term thinking for the endless saga between investors and the Securities and Exchange Commission (SEC). He stated while a violent affair that involves legislators, regulators, and investors alike.
“The main thing to remember is that bitcoin is a very early-stage venture but has real-time price feed, and that’s a unique thing. People get excited about the price and overreact.”
“That is going to be a very profound impact over the next five or 10 years for the markets, and, to my mind, that’s what people should be focused on.”
Recently, Fed chairperson told cryptocurrencies are ‘Great’ for money laundering. While talking to CNBC, the head of U.S central bank told on Wednesday that cryptocurrencies have no “intrinsic value” and presented critical risks to investors. His concern seems like coming from the apparent crypto bubble, and he said, ‘relatively unsophisticated investors see the asset go up in price, and they think ‘this is great, I’ll buy this.’ In fact, there is no promise of that.’