Aug. 11, 2023
I would like to comment in favor of ARK 21Shares Bitcoin ETF. Bitcoin is a store of value that has had an overall increasing price trend since its introduction over 10 years and has been the best performing asset class of the last decade outperforming the NASDAQ 100. Opening an ETF provides all investors with this opportunity who may not be adept enough to trade and self custody. By its Decentralised nature, it is resistant to attack or failure and by being proof of work, protected by millions of computers keeping it secure and validating transaction on the blockchain. A fixed supply, unlike fiat currencies, does not allow making more, so there will never be more than 21 million bitcoins making it deflationary. As an inflation hedge it is the perfect investment long term and should be offered to retail customers through ETFs. Individuals will invest in Bitcoin regardless, but providing them a way to do this through a protected ETF of a reputable public company offers the best and safest way to invest in Bitcoin.