Why financial advisers struggle to embrace Bitcoin’s rise
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BITCOIN is one of the most powerful technologies of our time. It has delivered financial freedom to millions and disrupted established financial players. Yet, many of my fellow financial professionals remain deeply sceptical of its worth.
This scepticism has stubbornly remained despite recent shifts in market trends, such as the rise of Bitcoin exchange traded funds (ETFs) and the marketing push from giants like BlackRock.
BlackRock’s IBIT (iShares Bitcoin Trust ETF) has received US$100 billion worth of flows, making it one of the most successful ETFs in history. Clearly, many investors are taking notice. JP Morgan said in October it would allow institutional clients to use Bitcoin as loan collateral. The Trump administration is examining adding crypto to the list of approved 401-k investments.
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