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Edward Jones senior investment strategist, Mona Mahajan, shed light on the potential of Bitcoin BTC/USD 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 investors overall portfolio.
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% thats lottery ticket money, but thats a great place to put it.
See Also: If You Invested Your 3 Stimulus Checks In Bitcoin, Dogecoin, Ethereum, Heres How Much Youd Have Today
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 theres still more room to grow.
Meanwhile, Standard Chartered projected Bitcoins value to rise to $100,000 this year and $200,000 by the end of 2025. Fundstrats 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 ofBenzinga Neuroand was reviewed and published by Benzinga editors.
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