The Economist Acknowledges Bitcoin as a "Useful Diversifier" for Investment Portfolios
The Economist has changed its stance on Bitcoin, now referring to it as a "useful diversifier" for investment portfolios. This marks a significant turning point as the publication previously claimed that digital assets were too volatile and associated with illegal activities. Despite facing challenges such as regulatory crackdowns and the impact of higher interest rates in 2022, the cryptocurrency industry, particularly Bitcoin, has proven to be resilient due to its technology and independence from traditional investments. Leading fund managers are now submitting applications to introduce Bitcoin Spot exchange-traded funds, which could lead to a surge of funds flowing into BTC.
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