Bitcoin Criticized Despite ETF Inflows and Price Gains
- Angel investor Jason Calacanis criticized Bitcoin, calling it a futile investment.
- U.S. spot Bitcoin ETFs attracted $433 million on September 18, with Fidelity’s FBTC leading at $311 million.
- Calacanis had previously predicted a significant rise for Bittensor’s TAO, which is down about 24%, while Bitcoin gained approximately 15%.
- Michael Saylor and Cathie Wood defended Bitcoin, highlighting its value as a digital asset and potential for future growth.
Despite criticism from some investors like Calacanis, U.S. spot Bitcoin ETFs saw substantial inflows, indicating continued institutional interest in the cryptocurrency. Key figures such as Michael Saylor and Cathie Wood have countered negative views by emphasizing Bitcoin’s role as a store of value.
While Calacanis questioned Bitcoin’s adoption potential, the recent ETF inflows suggest that many investors still see value in the asset class despite market fluctuations. (Source)
