Bitcoin (BTC).
Bitcoin’s recent surge was the result of several catalysts, not the least of which was the launch of the first bitcoin-focused exchange-traded fund in the United States. The Proshares Bitcoin Strategy ETF (ticker: BITO) began trading on October 19, and just one day later the excitement over the further spread of the digital asset led to BTC reaching an all-time high of $66,930. The invention of bitcoin in 2009 changed the monetary system forever and paved the way for decentralized blockchain-based currencies not issued by any nation.
Bitcoin’s primacy, its tight cap on maximum circulation of 21 million BTC and its potential to become a store of value on America’s corporate balance sheets – a future first hinted at by Tesla Inc. (TSLA) first hinted at when it announced in February that it was buying bitcoin for $1.5 billion – make the cryptocurrency a must-have.
