Last week saw the much-anticipated launch of the bitcoin exchange-traded funds (ETFs). What are the implications for bitcoin? And what are the implications for MicroStrategy (Nasdaq: MSTR), a company we covered on these pages in the summer, when I highlighted it as the best way for UK investors to play bitcoin.
Let’s start with bitcoin and come straight to the point. Over the long term the ETFs are an extraordinarily bullish development for the digital currency. They enable vast amounts of capital to enter the market, both at the retail and institutional
