Bitcoin (BTC-USD) has been one of the centers of attention on Wall Street this week as it hit a new all-time high of over $72,000 per coin. While many investors are excited, the highly volatile nature of the asset has made some investors cautious.
Mizuho Americas Senior Financial Technology Analyst Dan Dolev and BitGo Managing Director and Head of Go Network Matt Valensweig join Yahoo Finance to discuss how investors can take advantage of the recent Bitcoin rally Discuss whether it is possible.
Dreb actually begins by warning investors to stay away from crypto investing: “Let’s talk about Coinbase (COIN) specifically. They are a take rate business. And take rate is always the highest. It's supposed to be a race to the bottom. And ultimately, “They want more competition, and they're already making price concessions. In January, they're giving people who are doing more than 500,000 transactions.'' provided price concessions to the But regardless of that, I think Coinbase minus the take rate pressure and the competition.”
Valenswijk explained his bullish stance on digital assets: “Institutional investors are starting to flock in through nine new Bitcoin ETFs, and the flow is not really here. There is demand for BTC as an asset.BlackRock has announced that the IBIT ETF (via IBIT) “Yesterday, ETF volume was $2 billion. We have more than that. So the flow isn't really here.”
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Editor's note: This article was written by Nicholas Jacobino
