Kevin O'Leary Says He'll Never Buy Bitcoin ETF — Prefers to Hold BTC Long Term

[sirty143]

Kevin O'Leary Says He'll Never Buy Bitcoin ETF — Prefers to Hold BTC Long Term

Kevin O’Leary, aka Mr. Wonderful, says he will never buy a spot bitcoin exchange-traded fund (ETF) as he is holding bitcoin for the long term as digital gold. See more for yourself here.

Your opinion is greatly appreciated.

[yhiaali3]

In fact, Mr. Wonderful pointed out several important points:
The first point is that:

says he will never buy a spot bitcoin exchange-traded fund (ETF) as he is holding bitcoin for the long term as digital gold.

I completely agree with him on this point because the ETF is not a real Bitcoin and therefore does not have real value like Bitcoin and cannot serve as a long-term store of value.

The other point

he advised, noting that the 11 spot bitcoin ETFs have fees ranging from around 0.21% to 1.5%. O’Leary opined:
If you are a purist and you’re just holding bitcoin for the long term as a digital gold, as I am, I will never buy an ETF. Why would I pay these fees? It’s completely unnecessary. They add no value to me.

Yes, it is true, why pay all these excessive fees when you can acquire real Bitcoin without all these fees, and this point may not be noticed by many investors.

The third point

Regarding the approved 11 spot bitcoin ETFs, O’Leary stressed: “Not a chance they all survive.” He advised investors to watch their assets under management (AUM). Mr. Wonderful continued:

Maybe two or three will win. I’d bet that behemoths like Fidelity and Blackrock end up on top because they have massive sales forces.

I think this is true because the competition will be very intense between these funds and strong companies that have huge financing and huge sales forces will not succeed in surviving, as mentioned.

[Don Pedro Dinero]

It makes perfect sense. You won't see me buying bitcoin ETFs either, because if I have the real asset why would I want a paper derivative? Apart from the fact that you have to pay fees as O'Leary says. But some will be successful, however, as many people will buy them like they buy other commodity ETFs, such as gold or oil, even though in the competition that will be established between them only some will end up surviving and being the winners.