Bitcoin ETF · Bitcoin · U.S. Treasury · Bloomberg · Bitcoin Magazine
The debasement trade is when investors buy an asset to hedge against a currency losing value
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Last year, the investment strategy was much talked about but then went quiet as investors focused more on buying artificial intelligence-related equities.
Key facts
- Bitcoin was recently trading for $78,302 after jumping nearly 25% over a seven-day period
- U.S. investors have thrown $2.56 billion since last Monday, according to Farside Investors data, helping push the leading cryptocurrency’s price higher
- And this week alone, nearly $652 million in fresh cash has hit the products managed by the likes of BlackRock, Morgan Stanley, and Fidelity
- Bitcoin’s rise comes after a sluggish June and July when it mostly traded below $65,000
Summary
The popular Bitcoin investment vehicles have continued to receive new cash the past couple of days after last week's huge run. Bitcoin exchange-traded funds have continued their winning streak, attracting billions of dollars in new investment over the past week. U.S. investors have thrown $2.56 billion since last Monday, according to Farside Investors data, helping push the leading cryptocurrency’s price higher. And this week alone, nearly $652 million in fresh cash has hit the products managed by the likes of BlackRock, Morgan Stanley, and Fidelity. Bitcoin was recently trading for $78,302 after jumping nearly 25% over a seven-day period.