Bitcoin as a Digital Store of Value, Says Douglas Boneparth
Douglas Boneparth, the president and founder of Bona Fide Wealth, recently shared his perspective on bitcoin, likening it to digital gold or a store of value in the digital world. He highlighted the differences in approach between traditional trade finance giants like Blackrock and Fidelity, and cryptocurrency players like Bitwise and Vaneck.
Investments That Produce Alpha – Always in Demand
In a recent discussion with Eric Balchunas, Bloomberg’s senior ETF analyst, Boneparth discussed the emergence of spot bitcoin ETFs and the classification of bitcoin as an asset class. He compared bitcoin to digital gold, emphasizing the potential for alternative investments in portfolios that can produce alpha, and noted that clients will always have some appetite for such investments.
Lack of Interest from Baby Boomers in Spot Bitcoin ETF
Boneparth mentioned that he had not received significant inquiries from the baby boomer generation regarding the new spot bitcoin ETF. He mostly works with individuals in their mid to late 30s who have already been educated about cryptocurrencies and bitcoin well before any product offerings were available.
Native Crypto Companies vs Traditional Finance Firms
During the discussion, Boneparth was asked about his views on the differences between native crypto companies like Bitwise and established finance firms like Blackrock and Fidelity. He mentioned Bitwise’s contributions to Bitcoin Core developers and suggested that crypto-native funds might be more appealing to those who believe in blockchain and crypto. The future will reveal which type of company will come out on top.
Hot Take: Douglas Boneparth’s Perspective on Bitcoin
Douglas Boneparth describes bitcoin as a digital equivalent of gold and a store of value in the digital realm. He believes that clients will always have an appetite for investments that can produce alpha and are not correlated with traditional assets. While the spot bitcoin ETF has not received significant interest from baby boomers, younger generations have been more receptive to cryptocurrencies. Boneparth also highlights the differences between native crypto companies and established finance firms, suggesting that time will tell which approach proves more successful in the long run.
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