January 11, 2024 6:58 AM | 2 min read
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Edward Jones’ senior investment strategist, Mona Mahajan, shed light on the potential of Bitcoin (CRYPTO: BTC) exchange-traded-funds (ETFs) for investors.
What Happened: During a discussion with Business Insider, Mahajan proposed that Bitcoin ETFs could act as a lucrative avenue for “lottery ticket money” – a speculative slice of an investor’s overall portfolio.
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After a strenuous ten-year journey striving for official sanction in the U.S., Spot Bitcoin ETFs have finally secured approval. With the regulatory nod secured on Wednesday afternoon, the much-awaited investment vehicles are set to join the hustle and bustle of trading platforms by Thursday morning.
Mahajan, in a discussion with CNBC on Wednesday, said, “I think the bitcoin ETF is a great part of your speculative basket.” Emphasizing its fit for risk-tolerance portfolios, she added, “Everyone has that 5% that’s lottery ticket money, but that’s a great place to put it.”
Why It Matters: Mahajan also recommended that investors diversify their portfolios. She advised to not only invest in the ‘Mag Seven’ and artificial intelligence but also in the equal-weighted S&P 493, parts of value and cyclical, and even mid- and small-cap sectors.
According to her, these sectors are starting to make progress, but there’s still more room to grow.
Meanwhile, Standard Chartered projected Bitcoin’s value to rise to $100,000 this year and $200,000 by the end of 2025. Fundstrat’s Tom Lee has predicted a rise to $500,000 within five years.
Price Action: At the time of writing, BTC was trading at $46,050.65 up 0.38% in the last 24 hours, according to Benzinga Pro.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Read Next: SEC Twitter Hacked: Fake Bitcoin ETF Approval Tweet Creates Market Mayhem
Options 101: The Beginner’s Guide
Want to become an options master? In his free report, options expert Nic Chahine will give you access to the four bulletproof tips for beginners, the secret to scoring 411% gains with options, and his time-tested “plan” for success. Grab your free copy of Options 101: The Beginner’s Guide ASAP.
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