Bitcoin Is A ‘Digital Labubu’ With No Economic Value: Vanguard Quant Head
Vanguard, the world's second-largest asset manager, has begun allowing Bitcoin ETF trading on its platform, but its overall view on cryptocurrency remains unchanged. According to John Ameriks, Vanguard’s global head of quantitative equity, Bitcoin lacks the economic value of a productive asset, describing it instead as a speculative "digital Labubu" collectible. He stated there is no clear proof that Bitcoin’s technology provides durable economic value, as it lacks income, compounding, and cash-flow properties. While Vanguard now permits clients to trade crypto ETFs at their own discretion, the firm does not advise on crypto investments. Ameriks acknowledged Bitcoin might offer non-speculative value in high-inflation or unstable political environments but emphasized its history is too short for reliable investment thesis. Bitcoin is currently trading around $90,380, down over 2% in 24 hours and nearly 30% below its all-time high.
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