Winklevoss Bitcoin ETF: The Long-Awaited Horse-Drawn Ferrari In Digital Asset Speculation
Summary
Bitcoin ETFs, like currency ETFs, wrap liquid, spendable cash in a relatively costly and inefficient vehicle for a certain investor base that requires such a wrapper.
Speculation seems largely driven by China and specific events (e.g. Brexit). This could drive relatively high, positive BTC interest rates.
Usage continues to grow, but price volatility likely scares away non-speculative use of the digital currency for payments, which could drive competition from less volatile digital currencies.............
http://seekingalpha.com/article/3990196-winklevoss-bitcoin-etf-long-awaited-horse-drawn-ferrari-digital-asset-speculation
