Douglas Boneparth Explores Bitcoin’s Role as Digital Gold and Store of Value
Douglas Boneparth, the president and founder of Bona Fide Wealth, recently discussed bitcoin as a digital store of value or the equivalent of digital gold.
In his conversation with Eric Balchunas, a senior ETF analyst, Boneparth explored the rise of spot bitcoin exchange-traded funds (ETFs) and the positioning of bitcoin as an asset class. Describing it as a digital store of value, Boneparth highlighted its potential as an alternative in portfolios, catering to clients seeking uncorrelated assets capable of producing alpha. Boneparth also addressed inquiries about the new spot bitcoin ETF, noting a lack of significant interest, especially from the ‘baby boomer’ generation.
When asked about the differences between crypto-native companies like Bitwise and established trade finance giants like Blackrock and Fidelity, Boneparth referenced Bitwise’s contributions to Bitcoin Core developers. He suggested that for believers in blockchain and crypto, a native crypto fund might be more attractive. However, he acknowledged that the competition between native funds and major players like Blackrock and Fidelity is still uncertain and will unfold over time. Boneparth questioned whether crypto-native firms have an edge over massive institutions like Blackrock and Fidelity, emphasizing that the ongoing competition will determine the ultimate choice for investors.
Clever Robot News Desk 1st February 2024
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