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"Bitcoin enables perhaps the most powerful mode of ownership ever devised; it would be akin to gold inside a safe that can’t be penetrated with all the energy the universe, and with a password that you know but which could not be guessed over the entire lifetime of the universe."
~ Allen Farrington
What if buying an ETF of Bitcoin, is contradictory to the very investment thesis of Bitcoin itself. Knowing the investment thesis for bitcoin, should entail the understanding that bitcoin's value proposition is undermined by the very notion of holding a credit instrument in its place. Farrington breaks down a few of the reasons why in this excellent, short letter to those considering a purchase of the newly approved bitcoin ETFs.
Check out the original article at An Open Letter to Prospective Buyers of a Bitcoin ETF. (Link: http://tinyurl.com/ykktptk4)
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“Freedom is not worth having if it does not include the freedom to make mistakes.”
~ Mahatma Gandhi
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