Research Report
Gaining Acceptance
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October 30, 2023

What bitcoin is and its purpose is difficult to pinpoint for the uninitiated, with the confusion leading to initial aversion by some of the world’s most influential investing behemoths. In contrast, others have seen the value of bitcoin.

What was once considered a Ponzi scheme, a bubble, or even just the tool of criminals, bitcoin, is now entering the mainstream, slowly becoming an accepted investable asset, with the potential pending bitcoin spot ETF attesting to this.

At first skeptical, traditional financial leaders are doing an about-face, with the implications of bitcoin as a store of value and form of money becoming more apparent by the day.The normalization of bitcoin as an investable asset and the high-quality products and services built around bitcoin by traditional institutions should be a significant catalyst for a potential next bull run.

The current level of acceptance is the main difference between bitcoin and gold. Otherwise, the underlying properties of the two monetary assets and their value proposition are identical. Both are sound money, filling the use case of retaining value over time. With a reasonable argument, bitcoin is better than gold.

With fundamentals that place it in a relatively strong position for success, the level of acceptance will decide if bitcoin is this generation’s bubble or future generations’ gold.

Bitcoin Price - Advocates and Detractors

Source: Bloomberg, Eaglebrook Advisors

About Eaglebrook Advisors
Eaglebrook is a tech-driven investment manager specializing in bitcoin and digital assets. The firm offers various Bitcoin and Digital Asset SMAs serving financial advisors, registered investment advisors (RIAs), family offices, and institutions. Eaglebrook is backed by wealth management executives and institutions.
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